What meetings are required in the Voluntary Administration period?
There are at least 2 meetings required in the Voluntary Administration period.
The first meeting of creditors must be convened and held within 8 business days after the Voluntary Adminstration begins and decides;
- whether a committee of creditors is to be formed, and
- whether the existing Voluntary Administrator is to be replaced
The second meeting of creditors is usually held 35 days after the company enters Voluntary Administration and decides;
- Whether the administration is to end and control of the company is returned to the directors
- whether to approve a Deed of Company Arrangement - if one is proposed
- whether to place the company into liquidation
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