Section 258 — Companies Act 1993: Duty to have regard to views of creditors and shareholders

258 Duty to have regard to views of creditors and shareholders (1) The liquidator must have regard to— (a) The views of the shareholders by whom any special resolution was passed at a meeting held for the purposes of section 241(2)(a) of this Act set out in a resolution passed at that meeting: (b) The views of creditors set out in any resolution passed at a meeting held for the purposes of section 243 of this Act: (c) The views of creditors or shareholders set out in a resolution passed at a meeting called in accordance with subsection (2) of this section: (d) The views of any liquidation committee given in writing to the liquidator. (2) For the purposes of subsection (1) of this section, a liquidator— (a) Must summon meetings of shareholders at such times as may be specified by any resolution of shareholders passed at a meeting held for the purposes of section 241(2)(a) of this Act: (b) Must summon meetings of creditors at such times as may be specified by any resolution of creditors passed at a meeting held for the purposes of section 243 of this Act: (c) Must summon a meeting of shareholders forthwith when required to do so by notice in writing given by shareholders holding shares on which has been paid up not less than 10 percent of the total amount paid up on all shares issued by the company: (d) Must summon a meeting of creditors forthwith when required to do so by notice in writing given by creditors to whom is owed not less than 10 percent of the total amount owed to all creditors of the company: (e) May, at his or her discretion, summon a meeting of shareholders or creditors of the company. (3) A liquidator who calls a meeting of creditors or shareholders must call such a meeting in accordance with Schedule 1 or, if applicable, Schedule 5 to this Act, as the case may be. (4) Nothing in this section limits or prevents a liquidator from exercising his or her discretion in carrying out his or her functions and duties under this Act. Compare: 1955 No 63 s 241