Useful information for creditors following an insolvency appointment
Last Updated: 24/03/2026
Here we provide some useful information for creditors following an insolvency appointment which includes some insolvency guides, information on creditors’ meetings and links to additional guides and information from The Insolvency Service, our governing body R3 and the ICAEW (Institute of Chartered Accountants in England & Wales) .
Guides to insolvency procedures
Here we provide a general guide to insolvency which takes you through the waterfall of insolvency options from least to most severe and brief guides to the most common types of corporate insolvency procedures. Simply click here to access our guides to insolvency.
R3 Creditor Guides
R3 The Association of Business Recovery Professionals is our trade body and is the leading organisation for insolvency, restructuring and turnaround specialists in the UK.
Further information about creditors’ rights can be obtained by visiting the website of the Association of Business Recovery Professionals (R3).
Creditors' Committees and meetings
A creditors’ committee is a group of not less than three and not more than five creditors whose purpose is to represent the interests of the main body of creditors to assist the insolvency office holder in fulfilling his or her duties.
A committee is particularly useful in large complex insolvencies where, for example, there can be many key decisions that an insolvency practitioner has to make which may involve spending money that would otherwise be available to pay a dividend to unsecured creditors.
The committee also approves how the office holder is to be paid out of the assets of an insolvent estate.
R3 has issued a guide on creditors’ committees which can be downloaded here and there are two relevant Statements of Insolvency Practice (“SIPs”) – (click on the links below to download):
A further guide on creditors’ meetings can be downloaded here
New Insolvency Service publications
The Insolvency Service have reviewed their guidance publications and have begun the process of replacing the existing Word and PDF documents with new web based content, these publications can be found here.
ICAEW Insolvency materials
The Institute of Chartered Accountants in England and Wales (“ICAEW”) have developed some new materials to promote the value of ICAEW licensed insolvency practitioners and in particular a new guide entitled ‘Why early action is key to avoiding or surviving financial difficulties’ – which can be downloaded at www.icaew.com/guide
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