Convening hearing

Pursuant to section 896 of the Companies Act 2006 (CA 2006), the court may order a meeting of the creditors or class of creditors, or of the members or class of members, to be summoned in such manner as the court directs. An application for a meeting may be made by the company, any creditor or member of the company, or the liquidator or administrator of the company in the event it is being wound-up or is in administration.

For any scheme that is proposed within 12 weeks of a moratorium under the Corporate Insolvency and Governance Act 2020 (CIGA 2020), the holders of any moratorium debts and pre-moratorium debts for which the company did not have a payment holiday during the moratorium have, in effect, a veto right in respect of the scheme as the court may not Sanction the scheme if it includes provision in respect of such creditors without their consent (see Practice Note: Moratorium).

Application must be made to the Companies