Commentary

17 Abolition of requirement for certain meetings

BANKRUPTCY AND INSOLVENCY (INDIVIDUAL INSOLVENCY) vol 3(2)
| Commentary

17 Abolition of requirement for certain meetings

| Commentary

17 Abolition of requirement for certain meetings

As part of the rethinking of the conduct of meetings, the requirement to hold certain key face-to-face meetings of creditors—which were often sparsely attended—has been abolished and in most cases replaced by a requirement to obtain creditor's approval by using either the new ‘deemed consent’ procedure or a ‘virtual’ meeting1. These include, in a creditors' voluntary liquidation of a company, the initial meeting of creditors under the Insolvency Act 1986 Section 98. In personal insolvency, the significant change is the abolition of the final meeting of creditors previously provided for

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