Creditors' meetings
Article Abstract:
Rules are described for conducting creditors' meetings under The Insolvency (Scotland) Rules 1986. Meetings must be convened during business hours, and all persons entitled to attend the creditors' meeting must be given 21 days' notice. The meeting chair must be the responsible insolvency practitioner. Any individual creditor may request a creditors' meeting, although the creditor making the request must pay for the expenses of summoning and holding the meeting. Rules are also described for obtaining a quorum, adjourning, entitlement to vote, and passing resolutions.
Publication Name: The Accountant's Magazine
Subject: Business
ISSN: 0001-4761
Year: 1987
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Corporate insolvency and the unpaid seller
Article Abstract:
The legal position of unpaid sellers in British corporate insolvencies is discussed. The Insolvency Act 1986 places some restrictions on the statutory demand as a means of collecting undisputed debts. Demands that do not conform to the Act are ineffective. The new rules for submitting claims in a liquidation, and the use of proxies in insolvency proceedings are discussed. The receiver of a company in liquidation must meet with unsecured creditors within three months of receivership appointment.
Publication Name: The Accountant's Magazine
Subject: Business
ISSN: 0001-4761
Year: 1987
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Choosing a liquidator
Article Abstract:
Election and appointment of liquidators under the United Kingdom's Insolvency Act of 1986 is discussed. Provisions allowing creditors or shareholders to object to the nomination of particular persons as liquidators are described. There are three types of liquidators that may be used: full-power, provisional, and interim. The appointment of liquidators under court-ordered and voluntary completion procedures are discussed. The powers of the different types of liquidators are described.
Publication Name: The Accountant's Magazine
Subject: Business
ISSN: 0001-4761
Year: 1987
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