Iva proposal delayed decision...

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Joyski53

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Post by Joyski53 » Thu Jan 24, 2019 6:36 pm
Creditors Meeting was yesterday morning.

Told this afternoon decision adjourned as creation finance want more time to consider... tix exchange are dealing with this...
Is this necessarily a bad sign? I'm Really anxious bout yet another wait possibly up to a week.other creditors all said yes apparently

I owe creation 33% of the debt so they are the major creditor..just no idea why delay? Does this mean they will necessarily decline?

Foggy

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Post by Foggy » Thu Jan 24, 2019 6:58 pm
Were they a minor player Aperture would have employed the long walk / short plank procedure, but, with their voting power they are being treated with kid gloves in the hopes they will say yes. "Thinking about it" is better than an outright "no" and TiX are normally quite good ( they were with me).
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

Joyski53

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Joined: Thu Jan 03, 2019 6:12 pm

Post by Joyski53 » Mon Jan 28, 2019 12:03 pm
So last Wednesday 23rd Jan my iva creditors meeting was adjourned...apparently due to tix exchange not voting and they are majority creditor..

Aperture informed me this was quite normal and they adjourn a lot for more consideration..
Not heard anything as yet and the anxiety is building...longer it goes more I think it will be a no...anyone else been in this position?was told it would be resolved bythis Wednesday but not a word from anyone....

Foggy

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Post by Foggy » Mon Jan 28, 2019 12:16 pm
Joyski53 wrote:
So last Wednesday 23rd Jan my iva creditors meeting was adjourned...apparently due to tix exchange not voting and they are majority creditor..

Aperture informed me this was quite normal and they adjourn a lot for more consideration..
Not heard anything as yet and the anxiety is building...longer it goes more I think it will be a no...anyone else been in this position?was told it would be resolved bythis Wednesday but not a word from anyone....
This does seem to be becoming the new "norm". Creditfix adjourn regularly and were the only ones we hear about doing so. Seems now that Aperture have joined in.

From the point of view of the IVA, assuming all agreed protocols and paperwork have been used, there is no real reason that this should be happening, but, I get the feeling, creditors seem to be flexing their muscles and bit more and just "being awkward" -- usually the IP works this out, but it is a lot of un-needed angst for the debtor and work for the IP.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

kallis3

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Post by kallis3 » Mon Jan 28, 2019 1:33 pm
Hope you get this sorted soon.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
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