In most cases, your meeting of creditors will only last a few minutes. e trustee will ask you a few simple questions to make sure every ing in your bankruptcy papers is complete and accurate. However, if your bankruptcy petition does not match your supporting documents (such as tax returns and paystubs), e trustee will question you more. 23, · Typically, 30 days after a bankruptcy case is filed you will go wi your attorney to court to a Meeting of Creditors (or 341 Meeting). ere are a few standard questions at e Trustee will ask you to answer. Below are e questions: (1) Please state your name and address for e record.Au or: WM Law. 19, · One of e first steps in e Chapter 7 bankruptcy process is a meeting of e creditors, also known as a 341 hearing. is is e first important meeting wi your lawyer, trustee, and creditors which will be held to discuss your bankruptcy petition. 1.2. e meeting commenced at 12h05 and all attendees were requested to sign e attendance register. 1.3. GC explained e purpose of is first creditors meeting in terms of e Companies Act was inter alia to explain e process of e business rescue proceedings to e creditors. is meeting, called e 341 meeting (after its location in e bankruptcy code), e creditors' meeting, or e meeting of creditors, can be hard to prepare for. Each bankruptcy case is unique, and each bankruptcy trustee will ask e questions he or she feels are necessary to ask. Free Consultation - Call (813) 258-2808 - Christie D. Arkovich is dedicated to serving our clients wi a range of legal services including Chapter 13 Bankruptcy and Chapter 7 Bankruptcy cases. Sample Trustee Questions at your 341 Meeting of Creditors - Tampa Chapter 13 Bankruptcy Lawyer. 06, 20 · Most individual creditors who appear at a meeting of creditors do so because ey do not understand e process. Individual creditors usually believe at eir attendance is important to maintain eir claim against e debtor. e questions are generally inane, like: Are you going to pay me? or You promised to pay me, right? e trustee cannot give legal advice to creditors, so . 3.1.4. First Meeting of Creditors – 26 ch 3.1.5. First Meeting of Employees - 26 ch 3.1.6. Deadline to publish e Business Rescue Plan – 28 e , if creditors approve e extension of e deadline date for e plan. e usual deadline to . Minutes of Meeting of Creditors of ACN ACN 009 366 036 Pty Limited (Administrators Appointed) e Chairperson put a resolution to e meeting at e first meeting of creditors be held concurrently for e companies Questions e Chairperson opened e meeting for questions. Q. Doug Minchin (DM ), Rock Engineering. Minutes of e first meeting of creditors Subject: 2907160 Canada Inc. \(formerly known as Pro Inc.\) Keywords: Minutes of e first meeting of creditors, CCAA, KPMG, Monitor, Companies' Creditors Arrangement Act Created Date: 12/17/ 5:59:58 PM. e events leading up to e first meeting of creditors be crucial in appointing liquidators Section 40(1) of e Insolvency Act, 1936 (Act 24 of 1936) (e Act) provides at e Master shall immediately convene a first meeting of e creditors of e estate by notice in e Government Gazette ‘on receipt of an order of e court. 341 Meeting is brief and fairly informal, and usually boils down to answering some standard straightford questions posed by e bankruptcy trustee. Your attorney will be present at is meeting and will support you and will take note of trustee’s requests or additional questions, if necessary, and in most cases creditors do not show up. Mr. Meakin inquired whe er anyone present had any fur er questions or o er matters of business to raise. No questions or o er matters of business were raised and, accordingly, Mr. Meakin, representing creditors by proxy, moved to adjourn e meeting. e motion was seconded by Mr. Williams and e meeting was adjourned. When forming an LLC, it’s common to record e minutes of e first LLC meeting. An LLC’s initial meeting can include organization and setup at some find useful to document. We provide a free sample LLC first meeting minutes template here to memorialize e minutes of e first meeting . 30, · Questions a Creditor Might Ask You at e Meeting. After you take an oa promising to give tru ful testimony under penalty of perjury, creditors in attendance will have e opportunity to ask you questions about your personal and business finances, and assets. Here are examples of possible questions. Creditors or eir attorneys attend e meeting and ask questions about your case and schedules. For example, a secured lender ask about e value or condition of your home or car and whe er or not you intend on keeping e property. US$1 will receive copies of reports to creditors, notices of fur er meetings and e same access to e Liquidators and eir staff as any o er potential creditor. 2.6 e chairman stated at e first meeting of e creditors of e Company, had been convened in accordance wi section 179 of e BVI Insolvency Act, 2003 ( IA. 23, · Purpose of meetings 5 First meeting of creditors Convened under Section 436E of e Corporations Act, in order to: determine whe er to appoint a Committee of Creditors, and if so, who are to be e Committee’s members. and consider e removal of e Administrators and appoint an alternative Administrator who has consented to act. e first meeting of e Board of Directors of_____ _____(e Corporation) was held on e date and time and at e place set for in e written waiver of notice signed by all of e Directors, fixing such time and place, and prefixed to e minutes of is meeting. A creditors’ meeting is designed to allow e creditors to review a bankrupt’s situation, including asking e bankrupt questions about eir financial dealings at lead to eir trouble. Of equal importance, e creditors’ meeting allows e creditors to provide e trustee handling e bankruptcy wi instructions on how to deal wi. e 341(a) meeting is sometimes called e meeting of creditors and gets its name from e Section of Title 11 of e United States Code where e requirements for e first meeting of creditors and equity security holders are found. e creditors’ meeting usually lasts approximately 40 minutes, but if ere are complicated issues at arise in discussions wi e creditors, is can increase to a couple of hours. Al ough we have yet to see is happen, creditors wi a large enough vote do have e right to request a physical meeting which can take place at. At e meeting, you’ll provide proof of identification and answer questions about your bankruptcy filing. Your participation will likely last less an ten minutes. Timing and Location of e Meeting of Creditors. e court will set e meeting of creditors between 21 and 40 days after your bankruptcy filing date. 17, · A 341 meeting of creditors for businesses is an informal process at allows e bankruptcy trustee appointed to your case to ask questions about your bankruptcy filing. e meeting will: be scheduled about 20 to 40 days after you file. Minutes of e First Meeting of Creditors. Held on Tuesday, ust 16, at 11:00 pm. 440 – 2nd Avenue S.W., Calgary, AB. PRESENT: As per e attendance list attached hereto and forming part of ese minutes. OPENING e meeting chair, Deryck Helkaa of FTI Consulting Canada Inc. announced at he would be acting as. e trustee will probably do so as well. Also, a creditor cannot use e meeting as a fishing expedition to ask e debtor very general questions. Al ough a creditor has e exact right to do at, it is done pursuant to a Bankruptcy Rule 2004 exam, and not at e meeting of creditors. Procedure at Meetings. ginal note: Chair of first meeting 5 (1) e official receiver or his nominee shall be e chair at e first meeting of creditors and shall ide any questions or disputes arising at e meeting and from any such ision any creditor appeal to e court.. ginal note: Chair of subsequent meetings (2) At all meetings of creditors o er an e first, e. MINUTES OF E FIRST MEETING OF CREDITORS e 19, By Teleconference meeting to e creditors. e Chair lared at ere was a quorum and at e meeting was Following e trustee’s delivery of e report, e floor was opened for questions. Get ready for your 341 meeting of creditors wi e Chapter 7 bankruptcy trustee by watching is video. We will practice common questions at be asked. recording of e meeting. e Chairperson advised at minutes of e meeting would be lodged wi ASIC which be inspected by creditors. MEETINGS FOR O ER ENTITIES WI IN E STA TRAVEL GROUP e Chairperson advised at unlike e first meeting of creditors which was convened and held on at 12:00PM. 22, · e meeting of creditors is e one ing at all bankruptcy cases in e United States have in common. e Bankruptcy Code requires at is meeting, sometimes also called e 341 meeting or e creditors meeting, happens about a mon after e . In my Bankruptcy Alphabet, F is for First meeting of creditors.. Lots of rumors exist about e first meeting. it garners a level of notoriety at it cannot sustain on closer look.Let’s check it out. e first meeting of creditors is often e only time a debtor has to appear in public in connection wi eir bankruptcy case. It’s as close as most filers get to going to court . It is mandatory at you are present as e court cannot change e date of your meeting of creditors. However, e meeting is very short, lasting only a few minutes and e questions are simple, usually involving a yes or no answer. As your bankruptcy attorney, Greg Oberhauser will go over e potential questions e Trustee will. A Section 341 First Meeting of Creditors (341 Meeting) is a scheduled meeting between a debtor, a trustee and any creditors at would like to attend. e purpose of e meeting is to allow e trustee to ask questions of e debtor to help determine if e debtor should be granted relief under e Bankruptcy Code, i.e., a discharge of. Apr 24, · e first meeting of creditors is provided for in Division VI of e Insolvency Act- Section 52 as read toge er wi Section 81 of e Insolvency Act. e first meeting of creditors is convened by e official receiver. e official receiver is a qualified person appointed by e court to manage accounts of e bankrupt person. Usually, e first creditors’ meeting will follow a specific format. Creditors will be provided a copy of e estimated statement of affairs. A nominated director will read aloud a statement at outlines e company’s history and e causes of e failure. Creditors ask questions. After a Chapter 7 or Chapter 13 bankruptcy case is filed, e first event at takes place is some ing called a First Meeting of Creditors. It’s also usually e last event at takes place in e bankruptcy. e meeting is sometimes called e 341 hearing because it’s required by Section 341 of e Bankruptcy Code. e meeting name is misleading because no creditors usually. 30 Days after 341 Meeting. Wi in 30 days of having you 341 meeting, you must perform your intentions as stated in e Statement of Intentions you filed wi your bankruptcy petition. is means at you must surrender any property you said you weren’t keeping and reaffirm any debts you promised to repay after bankruptcy. 60 Days after 341. Minutes of e First Meeting of e Creditors in e matter of e Bankruptcy of Harlequin Boutique Hotel Limited held at 5 Floor Baobab Tower, rens, St. Michael, Barbados on Tuesday, e 12 day of e, at :00.m. 2. MINUTES OF FIRST MEETING OF CREDITORS OF AOLIDAY AU PTY LTD (ADMINISTRATORS APPOINTED) ACN 630 582 553 ( E COMPANY ) e Chairperson asked e meetings if ere were any questions. Questions were asked and answered in e meeting as follows. QUESTIONS AND ANSWERS Wilderness Journeys Pty Ltd. 09, · e creditors meeting is generally less formal an a hearing held before a judge. You should dress neatly, but you do not need to wear a suit and tie. Bankruptcy Note: Attorneys also use e term 341 hearing , which refers to e section of e Bankruptcy Code establishing e meeting of creditors. How e Meeting of Creditors Works. All debtors MUST attend e First Meeting of Creditors. Failure to attend result in e dismissal of your case. If you and your spouse filed a joint petition, bo of you must appear. At e meeting, e Chapter 7 trustee will ask you questions, under oa, about .