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james.c

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Post by james.c » Tue Feb 05, 2008 8:40 pm
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Apologies to all.
We have had a request to delete this thread from james.c but it is not possible to delete a thread once it has been answered !
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Last edited by james.c on Tue Feb 05, 2008 9:21 pm, edited 1 time in total.
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Cybus

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Post by Cybus » Tue Feb 05, 2008 8:52 pm
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You should be working in terms of percentage of creditors voting on the day.
For example, your IVA, to be approved required 75% majority of those voting on the day. So if one creditor accounted for say 10% of your liabilities voted and no other creditor voted, then that one creditor had 100% of the vote.

The same will apply in any variation. However, don't think that because they did not vote at one meeting, a creditor will not vote at another!
Tell it like it is.
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jpj

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Post by jpj » Tue Feb 05, 2008 8:52 pm
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A lot of IVAs state that you have to pay back a certain pence in the pound...any lower and your IP wouldnt put forward the offer in the first place!
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Cybus

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Post by Cybus » Tue Feb 05, 2008 8:57 pm
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james.c wrote:

I was always under the impression that if a creditor did not vote it automatically went down as a yes.

Can you please confirm either way?
No. If your proposal or variation received no votes, it cannot be implemented
Tell it like it is.
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james.c

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Post by james.c » Tue Feb 05, 2008 8:57 pm
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jpp -i know that and like i said this is in theory and i know an ip would not put this forward -i was just curious.
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jpj

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Post by jpj » Tue Feb 05, 2008 9:03 pm
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In theory a spaceship could land on all my creditors and I might not have to pay a penny back!
There are lots of people on this forum desperate for help and information...lets stick to reality! :o)
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