|
In this, the partners must explain why
they think that the proposal will be effective and how it
will be beneficial to creditors if they were to participate
in such an arrangement. It would also need to contain the
following: -
Details of the partnership assets to
be included and excluded
- Any other assets that are to
be included
- Details of partnership liabilities
- How each category of creditor
is to be dealt with and dates for distributions
- Proposed duration
- Details of any guarantees given
by the partnership or individual partners
- How the business is to be conducted
during the arrangement
- How distributions and collections
will be dealt with
- Amount of Nominees fees
- Supervisors functions
- Details of the Supervisor
|
