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Posted: Tue Feb 05, 2008 8:40 pm
by james.c
Apologies to all.
We have had a request to delete this thread from james.c but it is not possible to delete a thread once it has been answered !
admin
Posted: Tue Feb 05, 2008 8:52 pm
by Cybus
You should be working in terms of percentage of creditors voting on the day.
For example, your IVA, to be approved required 75% majority of those voting on the day. So if one creditor accounted for say 10% of your liabilities voted and no other creditor voted, then that one creditor had 100% of the vote.
The same will apply in any variation. However, don't think that because they did not vote at one meeting, a creditor will not vote at another!
Posted: Tue Feb 05, 2008 8:52 pm
by jpj
A lot of IVAs state that you have to pay back a certain pence in the pound...any lower and your IP wouldnt put forward the offer in the first place!
Posted: Tue Feb 05, 2008 8:57 pm
by Cybus
james.c wrote:
I was always under the impression that if a creditor did not vote it automatically went down as a yes.
Can you please confirm either way?
No. If your proposal or variation received no votes, it cannot be implemented
Posted: Tue Feb 05, 2008 8:57 pm
by james.c
jpp -i know that and like i said this is in theory and i know an ip would not put this forward -i was just curious.
Posted: Tue Feb 05, 2008 9:03 pm
by jpj
In theory a spaceship could land on all my creditors and I might not have to pay a penny back!
There are lots of people on this forum desperate for help and information...lets stick to reality!
)