Do you have to declare money from a court case ?

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William.ml

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Post by William.ml » Tue May 27, 2014 11:53 pm
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If you are in and IVA do you have to declare any money you receive from a court case to your IVA supervisor if its not a personal injury awared?
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luluj

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Post by luluj » Wed May 28, 2014 5:22 am
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You should notify your IP of the award and discuss wuth them the reason so it can be decided if it fulls under the windfall clause
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althas

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Post by althas » Wed May 28, 2014 8:50 am
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Yes you need to inform them of anything like this. Better to be safe than sorry, it would not be good if they found out later down the line

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stoneyB

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Post by stoneyB » Wed May 28, 2014 2:02 pm
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I would ask the question again and be specific about what the money was awarded to you for. There have been many examples on this forum of IP's who just assume they are entitled to everything. I would like to see the advice from the experts from this forum before approaching my IP.
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Shining

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Post by Shining » Wed May 28, 2014 7:29 pm
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I would definitely tell your IP and give them as much information as possible as to the reason you've been awarded this amount and let them decide where this lies within your IVA proposal.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
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wiggle1

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Post by wiggle1 » Wed May 28, 2014 10:41 pm
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Definitely tell your ip and the circumstances surrounding the award.
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Michael Peoples

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Post by Michael Peoples » Wed May 28, 2014 11:20 pm
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If there was a court case the IP should have been aware of this. If the case was ongoing before the IVA commenced it should have been addressed within the proposal.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
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MelanieGiles

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Post by MelanieGiles » Wed May 28, 2014 11:44 pm
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What does the settled claim relate to, William?
Regards, Melanie Giles, Insolvency Practitioner
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