COMPANIES AND ALLIED MATTERS ACT, 2020

Section 493: Further creditors’ meetings.

2020Section 493 of 870Federal Republic of Nigeria

(1) The administrator shall summon further creditors’ meeting if—
(a) it is requested in the prescribed manner by creditors of the company whose debts amount to at least 10% of the total debts of the company; or
(b) he is directed by the Court to summon a creditors’ meeting.
(2) An administrator commits an offence if he fails, without reasonable excuse, to summon a creditors’ meeting as required by this section.

Cite this section

Section 493, COMPANIES AND ALLIED MATTERS ACT, 2020 (2020).

https://repo.podus.ai/laws/companies-and-allied-matters-act-2020/section/493/