one creditor stopped IVA processing

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stephen.h

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Post by stephen.h » Wed Jul 04, 2007 10:06 pm
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went for an iva but one creditor stopped it processing. can we go for another iva leaving out this creditor
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MelanieGiles

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Post by MelanieGiles » Wed Jul 04, 2007 10:10 pm
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Hi stephen.h and welcome to the forum

Can you tell us which creditors, and how much they were owed in comparison to the remainder of your creditors? You cannot do another IVA leaving out this creditor, unless it is with every other creditor's agreement, and is in the interests of the body of creditors generally. I would not recommend this way forward, as it upsets the principle of pari-passu distribution.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk
Regards, Melanie Giles, Insolvency Practitioner
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