Companies Act 2016 · Updated to 31 Jan 2025 · Chapter III
369B. Filing, inspection and adjudication of proof of debt
Feedback & supportWhere the Court orders a meeting under subsection 366(1)
to be summoned, the company shall state in every notice referred to in subsection 369(1) summoning the meeting—
the manner in which a creditor is to file a proof of debt with the company; and
the period within which the proof is to be filed.
If a creditor does not file the creditor’s proof of debt in the manner and within the period stated in the notice summoning the meeting, the creditor is not allowed to vote, whether in person or by proxy, at the meeting.
Notwithstanding subsection (2), the Court may, on an application made by the company or a creditor, grant an order extending the period stated in the notice summoning the meeting within which a proof of debt is to be filed.
Upon being granted an order under subsection (3), the company shall as soon as practicable, send a notice of the order to each creditor meant to be bound by the compromise or arrangement.
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Every proof of debt filed under this section is to be adjudicated by the chairperson of the meeting held under subsection 366(1).
A creditor who has filed a proof of debt is entitled to inspect the whole or any part of a proof of debt filed by any other creditor, except a part of the other creditor’s proof that contains information that is subject to any obligation as to secrecy, or to any other restriction upon the disclosure of information, imposed by any written law, contract or rule of professional conduct, or by any person or authority under any written law.
The chairperson shall inform each creditor who has filed a proof of debt of the results of the adjudication of the proofs of debt filed by all creditors within such period and in such manner as may be determined by the Registrar.
A creditor who has filed a proof of debt may object to one or more of the following matters:
the rejection by the chairperson of the whole or any part of the creditor’s proof of debt;
the admission by the chairperson of the whole or any part of a proof of debt filed by another creditor;
a request by another creditor to inspect the whole or any part of the creditor’s proof of debt.
Any dispute between the chairperson and the company, between the chairperson and one or more creditors in relation to the rejection of a proof of debt, or between two or more creditors in relation to the inspection or admission of a proof of debt, may be adjudicated by an independent assessor appointed—
by the agreement of all parties to the dispute; or
if there is no such agreement, by the Court on the application of—
any party to the dispute; or
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the company, whether or not a party to the dispute.
The independent assessor appointed under subsection (9) shall be entitled to receive a renumeration which shall be determined—
by the agreement of all the parties to the dispute to be adjudicated by the independent assessor, where the independent assessor is appointed by the agreement of those parties; or
by the Court, where the independent assessor is appointed by the Court.
Where a creditor, the company or the chairperson disagrees with any decision of an independent assessor on an adjudication under subsection (9) in relation to the inspection, admission or rejection of a proof of debt, the creditor, company or chairperson, as the case may be, may file a notice of disagreement stating the reasons for the disagreement regarding that decision to the Court in the manner as determined by the Registrar not less than seven days before the hearing of the application under subsection 366(4).
The person filing the notice of disagreement shall send a copy of the notice filed under subsection (11) to—
the company, unless the notice is filed by the company; and
any creditor who has filed a proof of debt with the company for the purpose of voting at the meeting held under subsection 366(1), upon the request of that creditor.
In deciding whether or not an approval shall be granted under subsection 366(4), the Court shall take into account any notice of disagreement filed under subsection (11).
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