What is the creditors’ meeting?
A creditors’ meeting is a formal meeting of the creditors of an insolvent company. These meetings are held during insolvency proceedings and serve to inform creditors about the current status of the proceedings and to give them the opportunity to ask questions and take decisions. The creditors’ meeting is convened and chaired by the insolvency court (Sections 74 and 76 of the German Insolvency Code) and can play an important role in shaping the insolvency proceedings and in distributing the company’s assets to the creditors.
