Is asset at risk if IVA is defaulted ?

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Post by bob.ce » Tue Sep 21, 2010 5:35 pm
If someone is in an IVA and they own 25% of a company and they default on the IVA payments, is the asset at risk?


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Post by liamjames » Tue Sep 21, 2010 5:39 pm
Hi Bob and welcome!

You really need to check the terms of the proposal. From the cases I have seen I think it's unlikely that this asset would be included in the IVA. But if an IVA defaults and Bankruptcy is the only solution, then that's a different matter altogether.
Take care,

Liam James
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Post by Broke of London » Tue Sep 21, 2010 5:58 pm
Hi Bob, if you are already in an iva it will depend on your terms as Liamjames has already said. The best thing here is to speak to your ip about why you are struggling and they will do all they can to ensure your iva succeeds. If you are still deciding whether an iva is right for you, contact a couple of firms for info and advice on your situation. Good luck

Adam Davies

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Post by Adam Davies » Tue Sep 21, 2010 6:03 pm
It will be at risk if you are petitioned for bankruptcy following a failed IVA
Andam Davies


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Post by MelanieGiles » Tue Sep 21, 2010 11:21 pm
Shareholdings are very difficult to value, and a Trustee would have some difficulty in realising a 25% interest in a trading company in practice.
Regards, Melanie Giles, Insolvency Practitioner
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