The committee discussed the oral evidence that they had heard from interest groups such as the South Yorkshire Country Council and the City of London Solicitors Company. The committee said it needed more evidence on customer debtors. Future plans were discussed to hear more oral evidence, including what evidence is required.

Then, there was some analysis of the meaning and implications of bankruptcy petitions publicity. Then, the committee moved on to considering the options of deciding the majority rule of creditors should be decided.

The debts arrangement orders were discussed briefly, particularly the applicability of such orders to cases. It was agreed that there should be no preferential creditors in debt arrangement orders. If injustice would be done in case of large preferential creditors, then this is a case where the bankruptcy procedures would apply. A number of other issues were discussed very briefly.

Meeting 12 - 13-1-78