Grant Thornton operates a free creditors’ meeting attendance service, which is available to any individual or organisation that wishes to take advantage of it.
This free service includes a full report on the creditors’ meeting, assistance with making a valid reservation of title claim (if applicable), liaising with the Liquidator and attending meetings on your behalf.
The Company Law Enforcement Act 2001 established the Office of the Director of corporate Enforcement and contained a number of provisions, which impacted on the business community. Section 47 of the Act brought about a major change. Creditors are now able to elect their choice of liquidator on the basis of a majority of votes measured by value of claim only. This replaces the procedure where the creditors’ nominees must win a vote in number and value. This gives power and choice back to the creditor.
The introduction of the Act highlighted the need for trade creditors to ensure that they are professionally represented at creditors meetings. Grant Thornton will represent any individual or organisation at these meetings free of charge.
Benefit
The benefit of using this service is ensuring an individual or company’s interests are represented at the meeting by someone experienced in insolvency matters who may, in certain circumstances, be able to improve your chances of receiving a dividend. Grant Thornton will produce a brief written report, highlighting the prospective return, within 7 days of attending the meeting.