The starting point is a complete list of known creditors, with current contact details and the associated claims. The notice should identify the companies involved, the type of reorganisation and the proposed legal successor. In a division, it should be clear which company is to assume the liability in question. The proposed effective date and any possible effects on payment, security or points of contact should also be set out. Any rights, deadlines and means of response available to creditors under the law must be clearly specified. Known creditors must be notified individually where the applicable rules require it. A public notice may also be required to reach unknown creditors or people whose contact details are incomplete. The required publication method and the duration or repetition of the notice must be checked for the specific reorganisation. A register entry replaces a separate creditor notification only if the applicable rules expressly provide for this. Proof of dispatch, recipient lists, published texts and evidence of the notice should be kept in full in the reorganisation file.
Creditor Information on the Reorganisation of a Company in Georgia
In a reorganisation in Georgia, the company must determine which known creditors need to be notified individually and whether a public notice is also required. The creditor information should clearly explain the planned restructuring, the future allocation of claims and the available options for responding.
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Creditor information should reach known and unknown creditors through separate, procedurally appropriate channels. It should clearly explain the legal successor, effective date and effects on claims and security. A notice in the register does not automatically replace direct notification.