What happens if

[Beverley]

the creditors meeting is set for a particular date and you get the 75% vote, but a creditor subsequently says that they didnt receive any notification from the IP regarding the meeting date - can the approval be reversed?

[MelanieGiles]

So long as the IP can demonstrate that copies of the proposals were sent to the creditor, and that creditor was included on the statement of affairs, all creditors are bound.

There is a period of 28 days following the filing of the Chairman's Report to Court, during which time any creditor can challenge the decision of the meeting on the basis of unfair prejudice. Such challenges are rare, and I have personally never experienced one.

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

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[Beverley]

This forum is smashing. Thank you for the quick reply - can watch the second half of the rugby with more peace of mind!

[gavin]

thes is hapanig to me and wife i post more info when its sorted

Empty pockets never held anyone back. Only empty heads and empty hearts can do that.