rae25 wrote:Been told it's been adjourned after I rang them, thanks for advice. Apparently it's to do with someone not receiving a pack? Could this be right?
It could well be right if it is a creditor which might swing the vote they could object and derail the arrangement if they were "left out of the voting".
kallis3 wrote:As far as I am aware, if they didn't submit a vote they would still be bound by an IVA if others voted yes. I've known of some which have gone through with very small votes. It's 75% by value of those who vote on the day.
The creditor claims not to have been notified or given the required paperwork. In those circumstances a large creditor could derail the IVA, even if accepted by the others, on the grounds of not being given the opportunity / information required to vote.
Lisa Thomas wrote:That doesn't make sense. You need 75% in value of creditors vote to put the IVA though.
Are they saying no-one voted or that some creditors voted against it?
Apparently one large and potentially controlling creditor has claimed not to have been sent a pack and so were uninformed of the vote.
Who is onlineUsers browsing this forum: No registered users and 12 guests
Ask the IVA Experts a QuestionSimply complete form and you will get an answer from our IVA Experts (multiple replies within an hour *)
* Any use of this forum is conditional on you having read and agreed to our terms and conditions.
* If you enter your phone number, Vincent Bond and Co Ltd will give you a courtesy call to ensure that your question has been answered.
* The question will be posted on our forum, we will email you the location