Guide and script for holding standard creditor meetings—the position under the Insolvency (England and Wales) Rules 2016
Guide and script for holding standard creditor meetings—the position under the Insolvency (England and Wales) Rules 2016

The following Restructuring & Insolvency guidance note provides comprehensive and up to date legal information covering:

  • Guide and script for holding standard creditor meetings—the position under the Insolvency (England and Wales) Rules 2016
  • Introduction

Produced in partnership with Nick O’Reilly of Moorfields

Introduction

The time is now [insert the exact time] and I am opening the meeting of creditors of [insert name of the company] called as a general meeting of creditors under the Insolvency Act 1986 and the Insolvency (England and Wales) Rules 2016 (IR 2016), SI 2016/1024 as amended.

I am [insert name], of [insert firm or company name] [insert details of who the chairman is, eg adviser/administrator/provisional liquidator etc].

The meeting[s] that [is OR are] taking place today has been convened by me (or requisitioned by creditors) for the purposes of dealing with the following resolutions:

  1. fixing the basis of the office-holder’s remuneration;

  2. obtaining sanction from the creditors (in the absence of a creditors’ committee having been formed previously);

  3. forming a creditors’ committee;

  4. accepting proposals;

  5. removing the office-holder [if that is the purpose of the requisitioned meeting];

  6. appointing a new office-holder [to replace the removed office-holder]; and

  7. that the costs of requisitioning a meeting be paid out of the assets of the company.

I have been appointed as chairman of [each of] the meeting[s].

The agenda for today is as follows:

First Administrative matters
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