Benefits of creditors' meetings and creditors' committees in statutory insolvency procedures

Insolvency & Law's Business Advice Show is a podcast series focusing on debt recovery, credit management, insolvency in England and Wales, and other issues affecting business owners and company directors.
This episode explains the benefits of creditors’ meetings and creditors’ committees for unsecured creditors in statutory insolvency procedures such as:

• Administration
• Company Voluntary Arrangement (CVA)
• Creditors’ Voluntary Liquidation (CVL)
• Individual Voluntary Arrangement (IVA)

Has a company entered one of these insolvency procedures owing you money?
If so, you've come to the right place.
Learn how creditors in statutory insolvency procedures can protect their interests, and:

• Improve dividend prospects
• Understand the role of the insolvency practitioner (IP) / liquidator

After a company becomes insolvent, a creditors’ meeting - also known as a meeting of creditors - is usually convened to:

1. Explain to creditors why the company was unable to pay its debts
2. Appoint an insolvency practitioner
3. Agree the insolvency practitioner's fees
4. Vote on how to proceed with the business

Creditors can use a creditors’ committee - also known as a committee of creditors - to separate the insolvency practitioner (IP) from the insolvent company's director(s) to ensure the IP works solely in the interest of creditors.
Insolvency & Law (I&L) is a multi-award-winning consultancy providing bespoke solutions for business owners and company directors since 2009. For more information:

• Call 020 7504 1300 and speak with a professional advisor for a FREE consultation
• Download a report on creditors' meetings and committees from our website
• Purchase Beginner’s Guide to Debt Recovery, the latest book by I&L director Peter Murray