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Personal Debt : jargon busting : creditors' committee

 

9 : Creditors’ Committee :

This is a committee of between 3 and 5 creditors that can be formed at the initial creditors meeting. The role of the committee is to assist the appointed Insolvency Practitioner and represent the interests of all creditors. It is a voluntary committee and can only be formed of there is sufficient demand from creditors.

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Last updated :

1st September 2010.

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