Does TD ever vote
December 11th, 2013 by Questions
Good day–I have been in to visit with two trustees and there are major inconsistencies between them both on an array of points. Question–one trustee told me that TD(my largest creditor) should have the majority of voting shares. The other said that TD never votes–if this is the case–the votees left will likely create problems with this going through.
cheers
Posted from: British Columbia
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December 11, 2013 at 7:11 pm, A licensed trustee said:
Creditors have the option of voting or not, as they see fit. Td’s policy is to only vote when they have a majority of the debt or if there is/are specific issue(s) with the proposal they are concerned about.
There is no way of knowing for certain what TD will do in your case, but if they have the majority of the debt then usually they will. Of course, when they do decide to vote, they often counter offer and ask you to increase the amount of money you are offering in the proposal…