Plain language law

New Zealand law explained for everyone

239AEU: Court may order that related company in administration be added to existing pool
or “Court can add a related company in administration to an existing group”

You could also call this:

“How creditors vote when multiple related companies are being managed together”

When companies that work together (called pool companies) are being managed by an administrator, there are special rules for meetings with the people they owe money to (creditors). Usually, you can only vote on things that affect the specific company you’re a creditor for. But sometimes, if it’s too hard to separate the voting because the companies’ business is all mixed up, the administrator can ask a court for help. The court can then give instructions on how the voting should happen at the creditors’ meeting.

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

Next up: 239AEW: Pool companies may execute single deed of company administration

or “Companies in a group can sign one shared management plan”

Home
Companies Act 1993
Voluntary administration
239AEV: Creditors' meetings in single administration of pool companies

Part 15A Voluntary administration
Single administration of related companies in administration

239AEVCreditors' meetings in single administration of pool companies

The provisions of this Part in relation to creditors' meetings apply except that, subject to subsection (2), a creditor of a pool company may only vote on a matter related to the pool company of which that person is a creditor.
If separate voting by creditors is impracticable (because, for example, the affairs of the pool companies are intermingled), the court may, on the application of the pool administrator, give directions as to how voting at a creditors' meeting must proceed.

Notes