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Creditors’ Voluntary Liquidation

I have received a notice of decision procedure letter in relation to a proposed liquidation. What do I need to do?

In our experience this is the most commonly asked question by creditors. While it is true that you cannot prevent your customer from entering liquidation, critically it is not too late to take control of the situation.

As the creditor, you are entitled to requisition a meeting of creditors provided the appropriate threshold is met and then vote on the appointment of an Insolvency Practitioner, and this is where we can help. Attendance at the creditors’ meeting provides you with a crucial opportunity to provide information and influence decisions in a way that maximizes your recovery prospects.

Once you receive notification of your customer’s pending liquidation, all you need to do is simply notify our team and we can assist by:

  • Confirming the status of your customer;
  • Explaining how the liquidation process works;
  • Filing documentation on your behalf;
  • Providing professional representation at the creditors’ meeting, if one is held, and bringing previously undisclosed information to the attention of the meeting;
  • Discussing with you any concerns that you may have and suggesting matters that require investigation;
  • Notifying you of any potential dividends.

Where debts are concerned, speed is the essence and the sooner you contact us the better are the prospects of a successful outcome.

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Your Creditor Services Team

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