C-14 - Railway Act

Section 14 Disposition versions

1983-04-01

14. If at least one-half in value of the creditors or class of creditors, as the case may be, are present in person or represented by proxy at the meeting or meetings thereof respectively held pursuant to sections 12 and 13 of this Division, or either of such sections, and if at least three-fourths in value of the creditors or class of creditors, as the case may be, so present or represented at such meeting or meetings, agree to any compromise or arrangement either as proposed or as altered or modified at such meeting or meetings, such compromise or arrangement may be sanctioned by a judge as aforesaid. If so sanctioned, a certified copy of the judgment or order giving such sanction shall be forwarded to the Inspector General of Financial Institutions, and notice of the sanction shall be published by him in the Gazette officielle du Québec. From and after the date of such publication, the compromise or arrangement as so sanctioned shall be binding on all the creditors or the class of creditors, as the case may be, and on any trustee for any such class of creditors, whether secured or unsecured as the case may be, and shall also be binding on the company.

R. S. 1964, c. 290, s. 14; 1966-67, c. 72, s. 23; 1975, c. 76, s. 11; 1981, c. 9, s. 24; 1982, c. 52, s. 109.

1981-06-18

14. If at least one-half in value of the creditors or class of creditors, as the case may be, are present in person or represented by proxy at the meeting or meetings thereof respectively held pursuant to sections 12 and 13 of this Division, or either of such sections, and if at least three-fourths in value of the creditors or class of creditors, as the case may be, so present or represented at such meeting or meetings, agree to any compromise or arrangement either as proposed or as altered or modified at such meeting or meetings, such compromise or arrangement may be sanctioned by a judge as aforesaid. If so sanctioned, a certified copy of the judgment or order giving such sanction shall be filed in the Office of the Minister of Financial Institutions and Cooperatives and notice of the sanction shall be published by the Minister of Financial Institutions and Cooperatives in the Gazette officielle du Québec . From and after the date of such publication, the compromise or arrangement as so sanctioned shall be binding on all the creditors or the class of creditors, as the case may be, and on any trustee for any such class of creditors, whether secured or unsecured as the case may be, and shall also be binding on the company.

R. S. 1964, c. 290, s. 14; 1966-67, c. 72, s. 23; 1975, c. 76, s. 11; 1981, c. 9, s. 24.

1977-12-31

14. If at least one-half in value of the creditors or class of creditors, as the case may be, are present in person or represented by proxy at the meeting or meetings thereof respectively held pursuant to sections 12 and 13 of this Division, or either of such sections, and if at least three-fourths in value of the creditors or class of creditors, as the case may be, so present or represented at such meeting or meetings, agree to any compromise or arrangement either as proposed or as altered or modified at such meeting or meetings, such compromise or arrangement may be sanctioned by a judge as aforesaid. If so sanctioned, a certified copy of the judgment or order giving such sanction shall be filed in the Office of the Minister of Consumer Affairs, Cooperatives and Financial Institutions and notice of the sanction shall be published by the Minister of Consumer Affairs, Cooperatives and Financial Institutions in the Gazette officielle du Québec . From and after the date of such publication, the compromise or arrangement as so sanctioned shall be binding on all the creditors or the class of creditors, as the case may be, and on any trustee for any such class of creditors, whether secured or unsecured as the case may be, and shall also be binding on the company.

R. S. 1964, c. 290, s. 14; 1966-67, c. 72, s. 23; 1975, c. 76, s. 11.