Schedule 16, paragraph 56

The administrator of a company shall summon a creditors’ meeting if— it is requested in the prescribed manner by creditors of the company whose debts amount to at least 10% of the total debts of the company, or he is directed by the court to summon a creditors’ meeting. An administrator commits an offence if he fails without reasonable excuse to summon a creditors’ meeting as required by this paragraph.

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Source: legislation.gov.uk · retrieved 2026-09-04