Companies Act 2014 section 693

Costs of meetings

Section 693 deals with who bears the costs when someone other than the liquidator calls a meeting of creditors, contributories, or members during a winding up.

• Anyone other than the liquidator who calls a meeting of creditors, contributories, or members is personally liable for the costs of that meeting.
• Before calling the meeting, that person must deposit a sum with the liquidator as security for those costs, in an amount the liquidator considers sufficient.
• The meeting costs may be repaid from the company's assets if the court so orders, or if the creditors or contributories pass a resolution to that effect.
• This rule does not apply to creditors' meetings held under section 587, which relates to creditors' voluntary winding up.