Practical Law Glossary Item 0-382-3797 (Approx. 2 pages)
Glossary
Section 341 Meeting
Also known as meeting of creditors, creditors' meeting, and first meeting of creditors. The first meeting of creditors required by Section 341 of the Bankruptcy Code at which an executive officer of the debtor is questioned by creditors under oath regarding the debtor's financial affairs. The bankruptcy court may cancel this meeting in a prepackaged bankruptcy case, where it is unnecessary because the debtor has already negotiated with most or all of its creditors.