Creditors Meeting

A Creditors Meeting must take place when a company is placed into Creditors Voluntary Liquidation. It is often referred to as a Section 98 Meeting.

Before the meeting takes place the proposed Liquidator will have assisted the Director in producing a Directors Report and a Statement of Affairs (basically a simplified balance sheet) regarding the Company. Furthermore, all creditors will have been written to where they will have been invited to attend the meeting.

During the meeting the proposed Liquidator will present the report to Creditors before opening the meeting to questions from the floor. This process can be stressful for the Director as Creditors will often ask probing and awkward questions regarding the affairs of the Company prior to Liquidation. We are experienced at dealing with such matters and the fact that one of our advisers will be at the meeting to represent you and answer any potentially difficult questions on behalf of the Director gives you comfort.

With the help of Finance7 the Creditors Meeting will be a straightforward process and we will minimise the chances of you saying anything that may incriminate you

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