Yes there are. One other option is called Deemed Consent. This is where no meeting of creditors is convened and a date is set for the liquidation to commence. This can be challenged by the creditors who can demand a physical meeting be convened. In order for the creditors to request such a meeting they need to reach one of three criteria, that being 10% of creditors in value, 10 individual creditors or 10% of creditors in number supporting the request for this type of meeting. The physical meeting will be convened and held up to 14 days thereafter.
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