Notice to creditors requires companies to send prescribed form and state claim deadline after filing the creditors' list. A company must, within seven days of filing the list of creditors or such further time as the Judge allows, send each creditor named in the list a notice stating the proposed reduction of capital, the amount or estimated value of the creditor's debt or claim, and the time fixed by the Judge within which a creditor claiming a larger amount must submit particulars and advocate details to the company's advocate; the notice must be in the prescribed form and, unless the Judge directs otherwise, sent by prepaid registered post to the creditor's last known address, with alternative notice methods permitted if the address is unknown.
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Notice to creditors requires companies to send prescribed form and state claim deadline after filing the creditors' list.
A company must, within seven days of filing the list of creditors or such further time as the Judge allows, send each creditor named in the list a notice stating the proposed reduction of capital, the amount or estimated value of the creditor's debt or claim, and the time fixed by the Judge within which a creditor claiming a larger amount must submit particulars and advocate details to the company's advocate; the notice must be in the prescribed form and, unless the Judge directs otherwise, sent by prepaid registered post to the creditor's last known address, with alternative notice methods permitted if the address is unknown.
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