An IVA for 8.7 million pounds

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Adam Davies

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Post by Adam Davies » Fri Jul 10, 2009 3:21 pm
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and you thought your debt was high !!

http://www.thisisnottingham.co.uk/homen ... ticle.html
Andam Davies
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timeforchange

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Post by timeforchange » Fri Jul 10, 2009 3:33 pm
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For a venture of that size crashing into debt, it is unlikely any IVA is accceptable as we know IVAs. IP have all sorts of schemes to fold up bits of his empire and keep the ones running in the black afloat....some creditors will get hammered for sure.This guy has NO cash assets in the bank but companies as assets with dubious value as Never Never ranch belonging to Wacko Jacko RIP

The really rich have lots of cash made up of bank notes not just business valued as £££££.As DOTCOM decimation of the Internet bubble proove as in 2000

I do not feel sorry for them. Their business model is flawed advised by equally miscreant Bankers.Let them all GO BANKRUPT!!
Last edited by timeforchange on Fri Jul 10, 2009 3:37 pm, edited 1 time in total.
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Michael Peoples

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Post by Michael Peoples » Fri Jul 10, 2009 4:04 pm
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Nice case. I would love to prepare an IVA that big and tricky.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
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kallis3

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Post by kallis3 » Fri Jul 10, 2009 4:27 pm
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Hasn't Melanie done IVA's for people owing millions before? I'm sure I've heard her mention it on here.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
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MRBLUESKY

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Post by MRBLUESKY » Fri Jul 10, 2009 5:35 pm
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the bigger you are the harder you fall.
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iva100

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Post by iva100 » Fri Jul 10, 2009 8:38 pm
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I know of someone who had a lumpsum iva over two years who's origional debt was over 3 million.

Its a Fact.
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MelanieGiles

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Post by MelanieGiles » Sat Jul 11, 2009 4:37 pm
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I currently have a client with debts in excess of £3m!
Regards, Melanie Giles, Insolvency Practitioner
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kallis3

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Post by kallis3 » Sat Jul 11, 2009 5:42 pm
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I knew you had!
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
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johnnybriggs

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Post by johnnybriggs » Mon Jul 13, 2009 5:38 pm
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Kevin Maxwell was Britain's biggest bankrupt with debts of over £406 million. That was in 1992 and he is currently in an IVA.
JB
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