Creditors Meetings on rise as bad debts soar; The final nail in the coffin?
Feb 24th, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
For many businesses, the final confirmation of a bad debt arrives in the form of the statutory notice convening a meeting of creditors under Section 266 of the Companies Act 1963. In 2008 over 570 such meetings took place and early indicators for 2009 suggest that this figure will be surpassed.