Can a business partner be a creditor?

[arat]

Hi if business partner can be included as creditors on IVA or should be excluded as an associate creditors. Thank you

[Foggy]

It would depend on the nature and the formality of the loan between you. Also it isn't a 'given' that associates are excluded. The debt should be included, but, the voting rights of associates are treated differently. They are also, at times (not every time), asked by other creditors to forego their right to a dividend payment or set the debt aside until the IVA is concluded.

[Lisa Thomas]

All creditor debts need to be included in the proposals, but connected parties votes are restricted.