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A proxy is a person who is formally appointed to act on behalf of another. This is often used in a insolvency/restructuring context as appointing a person to vote on behalf of the principal at a general meeting of shareholders/members.
A proxy may be either specific or general. A ‘general proxy’ entitles the proxyholder to vote in favour of or against any resolution proposed, and entitles the proxy-holder to propose resolutions, including one for the appointment of an Insolvency Practitioner as Liquidator or Trustee in Bankruptcy.
A ‘specific proxy’ is appointed for a particular or specific meeting, or vote at that meeting.
A ‘continuing proxy’ will be delivered to the officeholder and may be exercised at any meeting which begins after the proxy is delivered. It will authorise the proxyholder to vote or abstain, or propose resolutions at the proxy-holder’s discretion.
[See ‘General Meeting’, ‘Insolvency Practitioner’, ‘Officeholder’, ‘Liquidator’, ‘Trustee in Bankruptcy’ and ‘Proxy-Holder’.]
A proxy-holder is a person who is appointed by a shareholder/member to be their representative at a general meeting.
[See ‘Shareholder’ and ‘General Meeting’.]
The two principal uses for a public examination are as a means to enforce cooperation, and as an aid to the Official Receiver’s enquiries.
The public examination of an individual (in personal insolvency) is one of the tools the Official Receiver has to get the essential information they need to build a full picture of the assets of the insolvent estate.
Guidance states that a public examination should not be regarded as an automatic alternative to obtaining initial information by way of interview. The Official
