Hi Liam, The creditors meeting is tomorrow, so i will suggest that we try and re-negotiate. It is quite complicated in the sense that the legal claim is via our company which is in liquidation. The administrator is pursuing the claim and as the biggest creditor (£500,000) we would get a substantial ...

Liam, thank you for the reply. Our Proposal is quite unique in the sense that we are offering a settlement from the proceeds of a legal claim. I can understand the creditors not liking it. Our only other option is bankruptcy, but of course it is quite expensive when you have nothing!
Kind regards
Dean

My IVA proposal has gone out to creditors, only two have responded, effectively rejecting the proposal. These represent between 23 - 27% of the overall debt. My advisors are saying that the IVA proposal has failed because 100% of the proxy votes have rejected. I thought a non response equated to an ...