Thank you for any help/advice you can give.
Foggy wrote:Do Amigo hold, by value, more than 25% of your son's total debt ? If so, and they bother to vote, they will always control the outcome. If not, and tyhe IP can convince 75% to vote yes, they can be outvoted. The problem here, though, is that even if an IVA is granted this would only absolve your son ... Amigo could and would still pursue the sister for payment.
Thank you for the information. I'm not sure of the actual financial figures at this time , but will find out and come back.
Amigo pursuing my daughter (craigs sister) would not be an issue.
Amigo is the only company that has rejected the IVA, so let me ask you this.
Is there anyway a guarantor can take control of the loan contract?
This would take Amigo out of the picture and allow the IVA to go through.
Thank you once again.
Who is onlineUsers browsing this forum: No registered users and 22 guests
Ask the IVA Experts a QuestionSimply complete form and you will get an answer from our IVA Experts (multiple replies within an hour *)
* Any use of this forum is conditional on you having read and agreed to our terms and conditions.
* If you enter your phone number, Vincent Bond and Co Ltd will give you a courtesy call to ensure that your question has been answered.
* The question will be posted on our forum, we will email you the location