Bankruptcy and Insolvency Act

Marginal note:Quorum

• 106 (1) One creditor entitled to vote, or the representative of such a creditor, constitutes a quorum for a meeting of creditors.

• Marginal note:Where no quorum

  (2) Where there is no quorum at the first meeting of creditors,

  • (a) the appointment of the trustee shall be deemed to be confirmed; and

  • (b) the chairman shall adjourn the meeting

    • (i) to such time and place as the chairman fixes, or

    • (ii) without fixing a time or place for a future meeting.

• Marginal note:Idem

  (2.1) Where there is no quorum at any meeting of creditors other than the first meeting, the chairman shall adjourn the meeting to such time and place as the chairman fixes.

• Marginal note:Adjournment with consent of meeting

  (3) The chairman of any meeting of creditors may with the consent of the meeting adjourn the meeting from time to time.