Quorum: Canada Debt .ca defines Quorum

Bankruptcy Term Quorum

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Canada Debt has the definition to the bankruptcy and debt term Quorum. Finding answers to terms such as Quorum can be difficult, especially if there is more than one definition which is why we have created a page dedicated to financial terms dealing exclusively with debt. Quorum in financial terms means...

In debt and bankruptcy terms, the phrase / term 'Quorum' is used as follows:

Under the Bankruptcy and Insolvency Act there must be one person present, either in person or by proxy, at a meeting of creditors before the meeting is considered to be a properly constituted one and hence can carry on with the business of the meeting.