Since 6 April 2017, insolvency legislation has changed the way in which creditors are consulted on insolvency matters. A physical meeting of creditors can no longer be convened unless it is requisitioned by creditors. You may however have received notice of a virtual meeting, voting by correspondence or notice of a decision by deemed consent. If you have received any of these notices and are unsure what to do, we can help.
Such processes are designed to enable greater creditor engagement with insolvency procedures and may provide creditors with an opportunity to understand the circumstances of a company’s or individual’s demise.