IVA Glossary
P
Proxy holder
The term "proxy holder" refers to the person who is responsible to attend a special meeting on behalf of a creditor or another member. People who are authorised under a proxy by someone else have to attend the meeting and have to represent the creditor or the person who delegated them by voting and speaking on behalf of them.
Proxy-holders are either given the authority to make decisions and vote by themselves in a way they consider to be the most appropriate (this is the case of a general proxy), or they are told how to vote (this is the special proxy). Proxy holders might also represent corporate bodies. This kind of proxy works in the same way, but proxy holders vote on behalf of an entire corporation.
In order to delegate a proxy-holder, creditors have to submit a special document which authorises this kind of delegation.
Proxy-holders are either given the authority to make decisions and vote by themselves in a way they consider to be the most appropriate (this is the case of a general proxy), or they are told how to vote (this is the special proxy). Proxy holders might also represent corporate bodies. This kind of proxy works in the same way, but proxy holders vote on behalf of an entire corporation.
In order to delegate a proxy-holder, creditors have to submit a special document which authorises this kind of delegation.
