IVA creditors meeting - only 2/14 voted

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rhythmb
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by rhythmb » Tue May 01, 2018 9:20 pm
Hi, so I had my IVA creditors meeting earlier, and of the 14 creditors I have, only two of them voted. My IVA is with Payplan and they said it doesn't happen often, they both voted to approve it with no amendments and she said it is now legally binding.

Is there a chance any of those that didn't vote could reject it afterwards, or have they all missed their chance to vote?
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luluj
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by luluj » Wed May 02, 2018 1:20 am
No not at all. The iva is approved as you need 75% of those voting to be in favour. Those that don't vote now have to accept the outcome as it is legally binding.
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Foggy
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by Foggy » Wed May 02, 2018 6:43 am
As Luluj said -- they are all bound into the IVA now, whether they voted or not. There is an outside possibility of a challenge from a creditor saying they weren't informed, but this is unlikely.
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kallis3
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by kallis3 » Wed May 02, 2018 8:36 am
Well done on being accepted! As others have said, everyone is now legally bound. Any contact from creditors, contact your IP.
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