Creditor Meeting Reporting Service
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Click here for technical information on the purpose of creditors' meetings
Like other insolvency practices, we are willing to attend creditors' meetings called by other practitioners on your behalf without charge. Unlike some, we do not offer this service on a routine basis in exchange for your vote for our appointment. Why not?
- We find that this does not necessarily add value to your position, particularly where a reputable practitioner is already involved.
- Most convening practitioners now issue full reports after the meeting, which complies with current best practice, and our own additional reports would not normally add significantly.
- Furthermore, whilst creditors' meetings can be forums for professionals who wish to demonstrate their oratory skills, in practice the effective business of most situations is decided beforehand.
Our approach therefore is to discuss with you on a case-by-case basis where there are real concerns and whether our attendance at the meeting is necessary. What are the possibilities?
- You might simply want reassurance that the practitioner convening the meeting is competent and reputable, which we would be pleased to do by telephone.
- If there are specific concerns about the events leading up to insolvency, we can deal with these on your behalf with a phone call to the convening practitioner, who might talk to us more readily as a fellow professional, or we could suggest how you could draft a formal letter.
- In the case of CVAs and administrations, where the creditors' meeting votes on the terms of a proposal that could impact on you, we prefer to review the proposals on a desk top basis at an early stage and recommend modifications. These are best put forward well before the meeting so that they can be properly considered.
- If there are any queries arising from the convening practitioner's report after the meeting, we can follow these up for you.
- If however there remain real concerns about the appropriateness of the convening practitioner to do the case and it is felt we could do it more cost effectively, then we would of course be pleased to so act.
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