If Barclays doesn't vote at the creditors meeting

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sahh

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Post by sahh » Sun Aug 12, 2007 8:57 pm
Hi there I was wondering what happens if one of my major creditors i.e. Barclays doesn't vote at the creditors meeting ? How does this affect the 75% majority. Thanks
 
 

aguise

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Post by aguise » Sun Aug 12, 2007 9:13 pm
Hi sahh
Depends on the other votes, if they vote yes then barclays will be counted as a yes also, if there is a majority against, then it will be counted as a no.

Ang


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Please visit my blog at http://aguise.blogs.iva.co.uk/
 
 

MelanieGiles

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Post by MelanieGiles » Sun Aug 12, 2007 11:17 pm
The votes are calculated on the basis of those creditors who turn up to vote, and not the total of your debts. So if only one small creditor submit a vote, and Barclays do not, then you have achieved 100% acceptance.

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

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk
Regards, Melanie Giles, Insolvency Practitioner
 
 

Oliver

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Post by Oliver » Mon Aug 13, 2007 4:01 pm
It's all down to those creditors who do vote, so if you manage to get 75% or more of the creditors that do vote, (pro rata) then your IVA will be accepted and forced on the non-voters.

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Oliver

Thomas Charles and Co Ltd.
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Oliver
 
 

sahh

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Post by sahh » Mon Aug 13, 2007 5:49 pm
Thanks everyone, thats put my mind at rest a bit.
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