Section 234: First creditors’ meeting

234. First creditors’ meeting (1) The administrator shall call the first creditors’ meeting to— (a) decide whether to appoint a creditors’ committee and, if so, to appoint its members; and (b) decide whether to replace the administrator. (2) The meeting shall be held within 10 days after the date on which the administration begins. (3) The administrator shall call the first creditors’ meeting by— (a) giving written notice of the meeting to as many of the company’s creditors as disclosed by the records kept by the company, as is reasonably practicable; and (b) publishing a notice of the meeting in a daily newspaper. (4) The administrator shall take the steps set out in subsection (3) not less than 6 days before the meeting. (5) The administrator shall table at the first creditors’ meeting an interests statement that complies with subsection (6). (6) The interests statement shall disclose whether the administrator, or a firm of which the administrator is a partner, has a relationship (whether professional, business or personal) with the company in administration or any of its officers, shareholders or creditors. (7) The administrator shall, before tabling the interests statement, make the inquiries that are reasonably necessary for ensuring that the interests statement is complete.