Dear IP, issue 63, had an article about including reference to the approval of pre-administration costs as a purpose of the meeting of creditors in the notices convening meetings of creditors in administration.
This is something that we have been raising as an issue ever since the rules on pre-administration costs were amended in April 2010. Our interpretation of the rules has always been that both the meeting and gazette notices should include reference to approval of pre-administration costs as a purpose of the meeting given that a separate resolution is required to approve them.
We are not aware that the absence of reference to pre-administration costs in the meeting or gazette notice has ever been raised as an issue on a monitoring visit in the past, but clearly that will now change given that the issue has been brought to the attention of the profession in Dear IP 63.
