Do creditors have to agree to a Trust Deed

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Buc08

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Post by Buc08 » Thu Nov 15, 2018 2:56 pm
Can an IP get a trust deed protected even if the creditors don’t agree?

Foggy

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Post by Foggy » Thu Nov 15, 2018 3:29 pm
Buc08 wrote:
Can an IP get a trust deed protected even if the creditors don’t agree?
Assuming it is the same as an IVA the Deed will be accepted with the required majority of creditors voting "yes" --- in which case dissenting creditors are also bound.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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Buc08

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Post by Buc08 » Thu Nov 15, 2018 5:02 pm
Foggy wrote:
Buc08 wrote:
Can an IP get a trust deed protected even if the creditors don’t agree?
Assuming it is the same as an IVA the Deed will be accepted with the required majority of creditors voting "yes" --- in which case dissenting creditors are also bound.
That was my understanding but been told that even if majority of shareholders object, an IP can get it protected anyway! Anyone heard of this??

Lisa Thomas

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Post by Lisa Thomas » Fri Nov 16, 2018 10:33 am
Sorry I don't deal with Trust deeds as they are Scottish procedures.

If no-one on here can answer your query you might like to talk to a Scottish IP that deals with trust deeds.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk

Lisa Thomas

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Post by Lisa Thomas » Fri Nov 16, 2018 10:34 am
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
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