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Bankruptcy creditors

In a bankruptcy, the power to make decisions on your company is transferred from you to the estate administrator and the creditors. The creditors decide on the matters of the estate at the creditors’ meetings. As a representative of your company, you can take part in the meetings and express your views but you cannot vote. If the creditors want to have closer cooperation with the estate administrator, they may elect a creditors’ committee from among themselves.

Updated: 21/12/2020