In insolvency proceedings, what role do Information Utilities serve?

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In insolvency proceedings, Information Utilities play a crucial role by providing financial information. Their primary function is to compile, store, and disseminate essential data related to the financial status and transactions of entities experiencing insolvency. This information is vital for various stakeholders, including creditors, debtors, and the insolvency professionals managing the proceedings.

By consolidating and presenting accurate financial data, Information Utilities facilitate better decision-making and enhance transparency in the insolvency process. This helps ensure that all parties have access to reliable information regarding the financial standing of the debtor, which can influence negotiations, the calculation of claims, and the distribution of any available assets. Overall, their provision of financial information is essential for the orderly resolution of insolvency cases.

The other options reflect roles that are not aligned with the primary function of Information Utilities; they do not represent creditors, engage in mediation, or conduct financial audits. Instead, their focus is specifically on sourcing and sharing financial data crucial for the insolvency framework.

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