I would say so - based on the information you have provided so far.
Barclays will not be able to sell the property without a repossession hearing as there is a residential aspect to the property.
If you have are in the process of arranging a remortgage you need to ask the advice of your current broker as to the benefits of pre-empting action by asking for an emergency court hearing.
If you are not speaking to a broker you need to speak to one ASAP. You need to speak to one who deals with sub prime and commercial properties. If you have enough equity in your property you could do a remortgage based on the bricks and mortar value and therefore could use lenders such as commercial first or 5D, obviously what products will be available to you will depend on your personal circumstance, you also need to ensure your broker is proactive and used to dealing with repossession hearings... etc.
You also need to speak to your IP and explain what has happened and ask why the contract of the commercial property was not taken into consideration when the IVA was suggested or proposed and see what they can do to help.
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