Insolvency Journal Frequently asked questions

IJ faq

  • 1. In a Liquidation, what is the order of creditors and who are such creditors?

  • 2. What is a Directors Estimated Statement of Affairs?

  • 3. Are all creditors of the Company invited to the creditors meeting?

  • 4. What is a proxy form? Why are there two?

  • 5. Who appoints a liquidator and when does the appointment occur?

  • 6. What are the formalities at a Creditors Meeting/ Do I as a Creditor have an opportunity to ask the Directors questions?

  • 7. What is a Committee of Inspection?

  • 8. My employer has gone into liquidation, what should I do? What am I entitled to?

  • 9. A Company owes me money, can I petition to place it in Liquidation and what is the process?

  • 10. What is an Examinership?

  • 11. I am a creditor of a Company that is in Examinership, what happens to my debt?

  • 12. What happens if I supply goods to a Company during the Examination period?

  • 13. What does appointing a Receiver mean?

  • 14. Can I make an application to be declared bankrupt and what is the process?

  • 15. What are the consequences of being declared Bankrupt?

  • 16. How do I advertise on

  • 17. How often is updated?

  • 18. What are the main differences between a Court Liquidation and a Creditors Voluntary Liquidation?

  • 19. What should I do if I find my Company is unable to pay its debts as they fall due?

  • 20. What is the role of the Office of Director of Corporate Enforcement in a Liqudiation?



The information contained in the above Frequently Asked Questions is for general information purposes only. The information is provided by and while we endeavor to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the information.

In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or, in connection with, the use of this information.


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