Just a general enquiry really!

[David Mond]

does anybody know how long the ip has got to get the chairmans report out to the creditors as mine are still awaiting theirs from may the 6th.they are saying they will keep phoning and contacting me by post threatning court action until they receive it.have phoned creditfix and they say there is a backlog.appreciate some feedback on this.

Some creditors agents insist that this is done within 24 hours of the meeting.

I believe there is a legal requirement (Insolvency Rules) to send this within 7 days of the meeting.

[kallis3]

I'd love to be able to pay everything back as well - unless I win the lottery it's not going to happen but I'd love to be able to up what I pay.

Not possible at the moment, but who knows?

[relieved33]

It would take a lottery win for me too - all 6 balls if I wanted to clear my mortgage too!!

I can live in hope!

[Skippy]

I did try to win Euromillions but only managed £6.10 so that didn't help much!

[MelanieGiles]

Which creditors are asking you to send Chairman's Reports on the day of the meeting David?

And the timeline for filing Chairman's Reports is 4 days.

[ivas4us]

Melanie I think I had something in mine about 24 hours for the charmans report and from memory would Grant Thorton ring any bells.

[MelanieGiles]

Not to me - but we don't tend to get bothered by this sort of silly modification in my practice.

[David Mond]

It is a standard modification put forward by GT. Are you saying they don't put that in any proxy and modification they send to you Melanie? And thanks for reminding me it is 4 days and not 7!

[MelanieGiles]

David - I am astonished that you are getting this sort of modification, and having discussed this with the head of that department at GT this morning, I am assured that this is not their practice - indeed how could we anticipate that a leading firm of insolvency practitioners themselves would seek to go against statute and attempt to impose their own rules!

Do you, as I do, chair all of your creditors meetings? If so, could you check which voting representative is actually saying that the chairman's report has to be filed within 24 hours. If this is actually happening, this needs to be taken up with the creditor concerned and referred to R3.

[David Mond]

If I am in the office I do - if not one of my senior managers does.

Will check and see and I will report back.

[David Mond]

The standard modification from GT is that a copy of the Chairman’s Report must be received within 4 working days of the meeting which is correct.

As for the 24 hour thing – it’s not a copy of the Chairman’s Report they require, it is the result of the meeting – which is what Paul from GT does – rings round the day after to get the results.

Hope this clarifies and sorry for any mis understanding.

[MelanieGiles]

We are always happy to confirm that outcomes to any creditors as they wish - of course this is entirely different to creditors submitting inappropriate modifications.

[ivas4us]

I have had a look at my chairman's report and sorry if I have misled but yes GT is 4 days dont know why I had 24 hours in my head.

[MelanieGiles]

I wasn't referring to your post Paul - and I love the piccie of your dog. He/she is gorgeous!

[ivas4us]

Thanks Melanie, Bess is a girl and very well behaved and placid which is good as the little one is not 3 until October, but so far so good she is being very good.