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s98 Meeting of Creditors

I have received a notice and proxy for an s98 Meeting of Creditors for my customer. What do I need to do?

Do I need to complete the forms? How do I complete the forms?

In our experience these are the two most commonly asked questions 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 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 maximises your recovery prospects. Completion of the proxy form will enable you to vote on important matters, including the appointment of a Liquidator and the terms of his remuneration, where you are unable to attend the meeting in person.

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 a proxy and proof of debt form on your behalf;
  • Providing professional representation at the creditors’ meeting 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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