Payments for creditors to vote for proposals held not to be bribes

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Payments for creditors to vote for proposals held not to be bribes - .PDF file.

A facilitation payment to encourage creditors to vote through the restructuring proposals of creditors’ debts has been held by the High Court not to be an illegal bribe. The court had regard to the fact that the offer of payment was made openly to all relevant creditors, none of whom were prevented from voting on the proposal.

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