Article 10.8 Vacancies: creditor members of creditors' or liquidation committee
This rule applies if there is a vacancy among the creditor members of a creditors' or liquidation committee or where the number of creditor members of the committee is fewer than the maximum allowed.
A vacancy need not be filled if—
the office-holder and a majority of the remaining creditor members agree; and
the total number of creditor members does not fall below 3.
The office-holder may appoint a creditor, who is qualified under rule 10.4 to be a member of the committee, to fill a vacancy or as an additional member of the committee, if—
the remaining creditor members of the committee (provided there are at least 2) agree in accordance with paragraph (4) to the appointment; and
the creditor agrees to act.
Where there are only 2 remaining members of the committee, both must agree to the appointment, otherwise a majority must agree.
Alternatively, the office-holder may seek a decision from creditors to appoint a creditor (with that creditor's consent) to fill the vacancy.
Where the vacancy is filled by an appointment made by a decision of creditors which is not chaired or convened by the office-holder, the chair or convenor must report the appointment to the office-holder.