Debt Advisor / Compass Finance Group

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Storm

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Post by Storm » Thu Jun 07, 2007 5:17 pm
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The Debt Advisor Group plc (“the Company”)

Statement re. suspension

Following the termination of preliminary discussions with a potential acquirer, the Company announces that it has engaged the services of an insolvency practitioner to establish the financial position of the Company and to examine its options. As a consequence, the Company has today requested the suspension of trading of its ordinary shares on AIM pending clarification of its financial position. A further announcement will be made in due course.
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Skippy

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Post by Skippy » Thu Jun 07, 2007 5:59 pm
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Am I reading this right - an IVA company is having financial difficulties?!? Also, is this the same company that Sadsack and someone else (sorry, I can't remember who you are) have their IVAs with?

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/
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ivoriva

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Post by ivoriva » Fri Jun 08, 2007 9:01 am
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Is it not the one with the IP Beverley Budsworth, the South African lady who some have been having problems with lately?
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Skippy

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Post by Skippy » Fri Jun 08, 2007 9:05 am
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That's what I thought Ivor.

Just out of curiousity, what would happen to the IVAs if an IVA company went into liquidation?

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/
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MelanieGiles

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Post by MelanieGiles » Fri Jun 08, 2007 9:58 am
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The cases would be transferred to another insolvency practitioner under direction of the former practitioners regulatory body. This would be a very smooth process, so can I urge any forum posters who may have cases with this practice not to panic. From what I can gather from the press release, the company is presently merely consulting with a specialist, so it is quite likely that things will be sorted out soon.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk
Regards, Melanie Giles, Insolvency Practitioner
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Adam Davies

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Post by Adam Davies » Fri Jun 08, 2007 2:15 pm
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Hi
There are 385 practices licensed to deal with IVAs............quite a bit of competition out there.
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp
Andam Davies
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