Do creditors have to agree to a Trust Deed

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Buc08
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by Buc08 » Thu Nov 15, 2018 2:56 pm
Can an IP get a trust deed protected even if the creditors don’t agree?
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Foggy
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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.
Buc08
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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??
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Lisa Thomas
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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.
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Lisa Thomas
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by Lisa Thomas » Fri Nov 16, 2018 10:34 am
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