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5 reasons why you should not ignore creditors meetings
About Creditors Meetings
Shortly before or after the commencement of a statutory insolvency procedure a creditors meeting will usually be convened by the insolvency practitioner (IP). The meeting is convened so that creditors get the opportunity to:
(1) Appoint their choice of insolvency practitioner (Liquidator, Administrator, Supervisor, Trustee) (“IP”)
(2) Set the basis for the IP’s remuneration and agree fees
(3) Form a creditors committee that will oversee the course of the insolvency and the IP’s duties
(4) Enquire with searching questions into the insolvent’s demise
(5) Compel the IP to take certain actions
At Insolvency & Law we will take instructions on your behalf to attend the creditors meeting and represent your interest. Your interest may be any one, or more, or all of the above 1 – 5 reasons.
Oftentimes we are able to contact other creditors with shared interest and galvanise significant support before the meeting actually takes place. With this support we can achieve any one, more, or all of the above 1 – 5 objectives.
We very firmly believe that the choice of IP should not rest with the insolvent but with creditors instead. When creditors do not use the power of their vote at creditors meetings invariably the insolvent’s choice of IP is appointed.
With a creditor appointed IP you can rest assured that not only will 1 – 5 above be met as routine procedure, most importantly dividend prospects will be enhanced.
To know more about our service contact us and find out how best we can help you- 0207 504 1300
Petition Debt Paid £14,442
Print Run has used the services of Insolvency and Law on two occasions in the last year. Initially the whole process of issuing a winding up petition appears to be daunting, especially for a small fish in a big sea when taking on large companies, but Peter Murray and his team made the job easy and totally seamless.
Petition Debt Paid £26,717
We were owed £26,717 by one of our customers and our credit control efforts, which had included a County Court Summons, were exhausted so we looked for third party assistance and came across Insolvency & Law on the internet. After a first conversation with Peter Murray I was left feeling confident that there was indeed hope through the debt recovery services provided by I&L.