Are the non voters treated as having voted against

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bobrini

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Post by bobrini » Tue Nov 20, 2007 4:19 pm
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When trying to meet the IVA criteria of 75% (in value) agreeing to the proposal, does the percentage calculation include creditors who did not bother to vote? Are the non voters treated as having voted against or for?

The reason for the question is that if there is a substantial group of creditors who did not vote, I assume they were agreeing, but did not want to waste any effort in submitting responses. I base this on the assumption that the creditors against the proposal are certain to respond. In view of this, then isn't there a danger that the 25% (in value) against the proposal is falsley achieved?
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Oliver

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Post by Oliver » Tue Nov 20, 2007 4:21 pm
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No the 75% bench mark is based only on those who vote (pro rata to the debt owed).

So if you have one creditor who votes then this is 100% of the vote.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp
Best Regards
Oliver
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