creditors' meeting

A creditors' meeting is a formal gathering of creditors—the parties owed money by a company or individual experiencing financial difficulties. The purpose is to review the debtor’s financial situation, discuss restructuring or repayment plans, and make collective decisions about how to proceed. It often takes place during insolvency or bankruptcy proceedings, providing transparency and an opportunity for creditors to voice concerns, vote on proposals, and ensure their interests are considered. The meeting helps facilitate fair handling of debts and aims to maximize recoveries for the creditors involved.