Committee of creditors meeting procedures under insolvency regulations: notice, convening, and duties for the resolution professional. The interim resolution professional must file a report certifying constitution of the committee within two days of verification of claims and hold the first meeting within seven days of that filing; if appointment of the resolution professional is delayed, the interim professional shall perform resolution professional functions from the fortieth day of the insolvency commencement date until a resolution professional is appointed. A resolution professional may convene meetings as necessary or on request by members meeting a voting-rights threshold, must place supported proposals, and must give at least five days' written notice which may be reduced by the committee to not less than twenty-four hours (or forty-eight hours if an authorised representative is present).
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Committee of creditors meeting procedures under insolvency regulations: notice, convening, and duties for the resolution professional.
The interim resolution professional must file a report certifying constitution of the committee within two days of verification of claims and hold the first meeting within seven days of that filing; if appointment of the resolution professional is delayed, the interim professional shall perform resolution professional functions from the fortieth day of the insolvency commencement date until a resolution professional is appointed. A resolution professional may convene meetings as necessary or on request by members meeting a voting-rights threshold, must place supported proposals, and must give at least five days' written notice which may be reduced by the committee to not less than twenty-four hours (or forty-eight hours if an authorised representative is present).
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