(1) Where, in a report made under section 15, the examiner expresses the opinion that -
(a) the whole or any part of the undertaking of the company to which he has been appointed would not be capable of survival as a going concern, or
(b) the formulation, acceptance, or confirmation of proposals for a compromise or scheme of arrangement would not facilitate such survival, or
(c) an attempt to continue the whole or part of the undertaking of the company would not be likely to be more advantageous to the members as a whole, or the creditors as a whole, than a winding-up of the company, or
(d) there is evidence of a substantial disappearance of property that is not adequately accounted for, or of other serious irregularities in relation to the company's affairs,
the court shall, as soon as may be after the receipt of the examiner's report, hold a hearing to consider matters arising out of the report.
(2) The following parties shall be entitled to appear and be heard at a hearing unde