The meeting at the Chamber of Commerce offices in Hamilton is scheduled to start at 9.30 a.m.

The official receiver/provisional liquidator, Kymn Astwood, is being represented by lawyer Robin Mayor.

Yesterday, Ms Mayor said: "The purpose of the meeting is to receive a report on the company from the official receiver and to elect a permanent liquidator.'' Ms Mayor declined to name the creditors and say how much was allegedly owed.

In May this year, it emerged lack of advertising had forced the Bermuda Times , the Island's only black-owned newspaper, to fold.

The collapse meant three full time staff members lost their jobs. The paper was founded by Opposition MP Dr. Ewart Brown and businessman Murray Brown.