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Creditor definition What does Creditor mean? A creditor is a person or entity to whom a monetary obligation is owed, with a right to demand and enforce payment from the debtor. In legal practice the term is used across contract, litigation and insolvency, and is also defined for specific purposes in legislation (for example, the Insolvency Act 1986, the Bankruptcy (Scotland) Act 2016, and, in Ireland, the Bankruptcy Act 1988 and Companies Act 2014). Those statutory uses commonly include present, future, contingent or unliquidated claims, and both secured and unsecured creditors. Key types include trade creditors, judgment creditors and secured creditors (such as mortgagees and fixed...
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Creditor voting, proofs and decision-making (deemed consent/qualifying procedures) under the Insolvency (England and Wales) Rules 2016: CVLs, compulsory liquidations, administrations, moratorium extensions, IVAs and CVAs
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Practice notes
Creditor decisions within formal Insolvency processes are needed for numerous purposes, such as appointing an Office-holder and meeting statutory obligations. The Insolvency (England and Wales) Rules 2016 (IR 2016), SI 2016/1024 introduce an updated framework for decision-making across all insolvency procedures. The detailed rules on how decisions are made appear in IR 2016, SI 2016/1024, Pt 15. The most notable shift in the decision regime, and the one that has most affected insolvency practitioners (IPs), is that face-to-face meetings are no longer the principal way to engage with creditors. Instead, a deemed consent route and qualifying decision procedures are deployed as alternatives to a physical meeting in the first instance. For further reading and background, see Practice Note: The decision-making procedures and deemed consent. This Practice note concentrates in particular on creditor voting and decisions concerning the Appointment of a liquidator in compulsory liquidations and creditors’ voluntary liquidations (CVL), the consideration of an administrator’s proposals to achieve the purpose of administration, the extension of a moratorium under Part A1 of the Insolvency Act 1986 (IA 1986), and the consideration of individual voluntary arrangement (IVA) and company voluntary arrangement (CVA) proposals.
Voting in a decision procedure
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Web page updated on 21/05/2026
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Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...
I, [ name ], of [ address ], solemnly and sincerely state that: [ Matters to be verified, set out in numbered paragraphs ] I make this solemn statement in good conscience, believing it to be true, and pursuant to the provisions of the Statutory Declarations Act 1835. DECLARED at [ details ] this [ day ] day of [ month and year ] Before me ................................................................................ [ signature of the person before whom the declaration is made ] A [ commissioner for oaths OR [ solicitor OR [ insert other qualification ] ] authorised to administer oaths ]...
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