I am some years into an IVA serving as a director of a Ltd company which is the owner of a pub company tied lease. I personally guaranteed the lease some years ago but the AGA has not been included in the IVA as a contingent creditor. Can a contingent creditor be added to the IVA after some years and are there any consequences? Does our IVA offer any protection from bankruptcy should we become liable to debts from the pub company.
The lease holder will have been notified of the IVA at the time and therefore you should be protected in the event of default. Contingent creditors must be notified and are bound by the terms.