 and once proposals for a scheme of arrangement are formulated, they are circulated to each creditor and member and the examiner then convenes meetings of the various classes of creditors together with meetings of appropriate classes of shareholders.Provided that at least one class of creditor votes in favour of accepting the examiner's proposals, the examiner may proceed to seek court approval sanctioning his scheme of arrangement thereby making it binding on dissenting parties.The voting by creditors at their meetings is by a majority in number representing a majority in value of the claims represented at that meeting.