Commentary

205 Conversion to creditors’ voluntary liquidation

BANKRUPTCY AND INSOLVENCY (CORPORATE INSOLVENCY) vol 3(3)
| Commentary

205 Conversion to creditors’ voluntary liquidation

| Commentary

205 Conversion to creditors’ voluntary liquidation

The general idea of abolition of creditors' meetings makes a significant change in this— not uncommon—eventuality. Before 6 April 2017, if, in a members’ winding up, the liquidator was of the opinion that the company would be unable to pay its debts in full together with interest at the official rate1 within the time stated in the declaration of solvency, he was obliged to summon a meeting of creditors to be held not later than 28 days after he formed that opinion and lay before them a statement of affairs of the company sworn

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