Creditor Information
Who is a creditor of a company?
If a company is in financial difficulty, its shareholders, creditors, or the court can put the company into liquidation.
You are a creditor of a company if the company owes you money. Usually, a creditor is owed money because they have provided goods or services, or made loans to the company.
An employee owed money for unpaid wages and other entitlements is a creditor. A person who may be owed money by the company if a certain event occurs (e.g. if they succeed in a legal claim against the company) is also a creditor, and is sometimes referred to as a ‘contingent’ creditor.
As a creditor, you have rights to request meetings and information or take certain actions:
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Right to request a meeting
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Right to request information
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Right to give directions to trustee
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Right to apply to Inspector-General for a review of remuneration
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Right to replace trustee
Individual person owes you money
You are a creditor if a person owes you money. Usually, a creditor is owed money because they have provided goods or services, or loaned money.
If the person that owes you money becomes bankrupt (insolvent), this will affect how you can pursue the unpaid debt.
As a creditor, you have rights in a regulated debtor estate, including bankrupt estates, to request meetings and information or take certain actions:
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Right to request a meeting
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Right to request information
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Right to give directions to trustee
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Right to apply to Inspector-General for a review of remuneration
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Right to replace trustee