As soon as the proceedings have been initiated, debtors must provide the insolvency practitioner with a list of their creditors, the amount of their debts and the main contracts in progress.
This list will enable the bodies involved in the proceedings to inform the company’s creditors and clients.
The ruling initiating collective proceedings is also published in a legal gazette and in the BODACC.
In the interests of transparency, company managers may also decide to inform their creditors and clients directly.
