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Creditor Objection

If you have several creditors and one is objecting – can you make an arrangement directly with the objecting creditor to satisfy them and as a condition of your offer to satisfy them – they would then cancel there objections to the court? As well, when one creditor formally objects – are all creditors made aware of the grounds? Thanks for the informative site

Posted from: Manitoba

One Response to “Creditor Objection”

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Barton Goth GCO Bankruptcy Trustees said...

There have been situations where a formal objection has been made and between the time of the objection we were able to provide additional information to the creditor in question and they withdrew their objection. Now this is not exactily the situation you described as we didn’t directly try to arrange something that would be acceptable with the creditors, but technically that would be possible.

As for who is informed of the details of the objection, typically the other creditors are not, the objecting creditor simply has to give notice to the court and to the trustee. However, your other creditors will be notified that there is an objection, the date it will be heard on and are able to attend. If they do attend then they will definately be made aware of the grounds.