Section 572 of Insolvency Act CAP 53: Consequences of failure to obtain approval of administrator's proposals
(1) This section applies if an administrator reports to the Court that—
(a) an initial creditors' meeting has failed to approve the administrator's proposals presented to
it; or
(b) a creditors' meeting has failed to approve a revision of the administrator's proposals presented to it.
(2) The Court may—
(a) make an order terminating the appointment of an administrator with immediate effect or with effect from a specified date;
(b) adjourn the hearing conditionally or unconditionally;
(c) make an interim order;
(d) make an order declaring an application for a liquidation order to be suspended because of section 558(1)(b); or
(e) make any other order (including an order making consequential provision) that the Court considers appropriate.
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