Meeting of Creditors (purpose of)
This is a meeting arranged in connection with an insolvency proceeding, at which any acknowledged creditor of an insolvent individual or company is entitled to attend.
The normal purpose of a creditors' meeting is to inform the creditors of the financial position of the insolvent individual or company, and report on the likely amount that can be realised by disposing of any assets. Such funds will be used to pay off secured creditors, preferred creditors and unsecured creditors in that order.
If you are facing financial uncertainty, the P&A Partnership can help.
Whether you are an individual, a sole trader, a partnership or a limited company, we understand the uncertainties and complexities surrounding financial difficulties and provide both insolvency and business recovery services to help you through them.
Remember, the best time to avoid disaster is before it strikes - so if you have any concerns regarding financial problems or insolvency, contact us without delay on our confidential helpline:
0800 542 3021
