The purpose of the 341 Meeting is to examine the debtor’s financial position and to confirm facts stated by the debtor in the bankruptcy filing. While creditors are not required to attend the 341 Meeting, creditors have an opportunity to examine the debtor and ask questions related to the debtor’s financials and the bankruptcy case. The 341 Meeting can inform creditors of how claims might be treated and the debtor’s ultimate plan for their bankruptcy case. This article will explain what 341 Meeting is, and how the meeting can be important to creditors in a bankruptcy case.

Troutman Pepper's Creditor’s Rights Toolkit is a series that provides practical insights to help creditors confront the challenges of commercial bankruptcy.