§ Mr. Wigleyasked the Secretary of State for Trade in what circumstances a liquidator of a company may call a general meeting of creditors without individually notifying each of those creditors, or taking reasonable steps to ensure that such creditors know of the meeting; and if he is satisfied with the existing provisions of legislation on this matter.
§ Mr. Clinton DavisSubject to any direction by the court in a compulsory winding-up, and in a creditor's voluntary winding-up, a liquidator is required to summon general meetings of creditors by notice in theLondon Gazette and a local paper and to send notice by post to every person appearing by the company's books to be a creditor. Notice of a final meeting of creditors in a voluntary winding-up is required to be given only in the London Gazette.
The relevant provisions of present legislation appear to operate satisfactorily but perhaps the hon. Member will let me know of any particular difficulty he has in mind.
The Insolvency Law Review Committee, set up by the Secretary of State, is carrying out a wide-ranging review of all aspects of insolvency law.