Creditors' meeting (kreditormøde)
Also known as meeting of creditors, møde i skifteretten
The creditors' meeting is the meeting at the bankruptcy court (skifteretten) where the trustee reports on the estate and the creditors can vote.
Key facts
- Convened by
- The trustee or the bankruptcy court
In practice
At the creditors’ meeting you get the real picture of the estate: what assets there are, what dividend is expected, and what the trustee intends to pursue.
In a restructuring the meeting is more than a briefing: this is where the composition is voted on, and the outcome binds those who stayed away as well. Do not turn up, and others will vote on your money.
Where it commonly goes wrong
- Staying away because “there is probably nothing in it anyway”. In a restructuring, that is an expensive assumption.
- You attend without having filed the claim. Voting rights follow the filing, not the attendance.