Because you are supposed to be in attendance at the creditors meeting in person. It is at the time of the meeting when decisions are made - with your input of course. If you are unable to make a decision during the meeting, then your IP would have to adjourn proceedings until you were in a position to confirm.
The Chairman's Report is a historical minute of events which occured during the meeting, and is not the opportunity for you to confirm whether you accept the modifications or not. If you choose not to attend the meeting, and are unable to confirm a yes or no, then your IP has no choice but to adjourn. The IP knows that they are speaking to the correct person, because they have built up a relationship with that client during the time in which the proposals have been put together - or at least that is how it is supposed to work. Sadly, I fear that in many cases this does not happen. Sorry, but things become official at the date of the meeting, not the time you sign the Chairman's Report - and I don't see that changing or there to be a need for change in this aspect of insolvency management.
Reading your post and Adrian's it is clear that there is some odd advice and practice out there at the moment.
Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
For further details contact me at
http://www.melaniegiles.com and view my IVA blog at:
http://melaniegiles.blogs.iva.co.uk
