first meeting of creditors
first meeting of creditors
a mandatory meeting between creditors and the debtor. It is usually held within a month of the filing of bankruptcy but often occurs later when the debtor has filed its schedules of financial information (Glossary of Common Bankruptcy Terms)

The meeting called by the Trustee in Bankruptcy to consider the affairs of the bankrupt or a debtor under a proposal. NOTE: Under the Bankruptcy and insolvency Act, as amended on September 30, 1997, there is not a meeting of creditors required for simple personal bankruptcy cases, unless the Superintendent of Bankruptcy or creditors holding 25% of the proven claims request one. (Dictionary of Canadian Bankruptcy Terms)

(= 341 meeting) (Common Bankruptcy Terms)

United Glossary of Bankruptcy Terms 2012.


Glossary of Bankruptcy.

Look at other dictionaries:

  • first meeting of creditors — USA Section 341 meeting. Also known as meeting of creditors, creditors meeting, and first meeting of creditors. The first meeting of creditors required by Section 341 of the Bankruptcy Code at which an executive officer of the debtor is… …   Law dictionary

  • first meeting of creditors — In bankruptcy, the initial meeting called by the court for the examination of the bankrupt (i.e. debtor). Bankruptcy Code, No. 341 …   Black's law dictionary

  • first meeting of creditors — In bankruptcy, the initial meeting called by the court for the examination of the bankrupt (i.e. debtor). Bankruptcy Code, No. 341 …   Black's law dictionary

  • meeting of creditors — meet·ing of creditors: a hearing held pursuant to section 341 of the Bankruptcy Code at which a bankrupt debtor is required to submit to examination under oath by creditors who may also elect a trustee if one has not already been appointed… …   Law dictionary

  • meeting of creditors — The debtor must appear at a meeting with the trustee to be examined under oath about assets and liabilities. Creditors are invited but seldom attend. The meeting is sometimes called the 341 meeting, after the section of the Bankruptcy Code that… …   Glossary of Bankruptcy

  • meeting of Creditors — See Section 341(a) Meeting (SA Bankruptcy.com) United Glossary of Bankruptcy Terms 2012. meeting of creditors Also known as the section 341 meeting or first meeting of creditors. This is an opportunity for the trustee and the creditors to… …   Glossary of Bankruptcy

  • first meeting — The first meeting of creditors of a bankrupt, to be held not less than 10 nor more than 30 days after the adjudication, for the allowance of claims of creditors, the examination of the bankrupt, the election of a trustee in bankruptcy, and such… …   Ballentine's law dictionary

  • creditors' meeting — USA Section 341 meeting. Also known as meeting of creditors, creditors meeting, and first meeting of creditors. The first meeting of creditors required by Section 341 of the Bankruptcy Code at which an executive officer of the debtor is… …   Law dictionary

  • creditors' meeting — In bankruptcy, first meeting of creditors and equity security holders, at which time a trustee may be elected and the debtor examined under oath. Bankruptcy Code, No. 341. See also meeting of creditors …   Black's law dictionary

  • creditors' meeting — In bankruptcy, first meeting of creditors and equity security holders, at which time a trustee may be elected and the debtor examined under oath. Bankruptcy Code, No. 341. See also meeting of creditors …   Black's law dictionary

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