Posted: Wed Apr 02, 2008 9:57 pm
Good news on this front ... I heard from my IP yesterday that their report to my creditors offering a F&F offer based on the same return (25p in £)as my IVA should be going out in the next few days.
The position with my ongoing liability for the lease on my old business premises is that the Landlord has failed to put in any claim for monies he considers due to him by the date required.
My question to my IP was whether this will also now totally exonerate me from any future liability for the lease (which I am still technically liable for) ... the following represents their reply ... but if anyone could give a second opinion on this I would be most grateful as I am still not 100% confident that this liability wont come back to haunt me in the future [:(]
Debbie
"I can advise that Emma has asked our solicitor to confirm the position with the landlord and he has given her the following information:
The legal position is that the lease always remained with the debtor. Accordingly, the landlord is a creditor under section 260(2)(b)(ii) and should be admitted as a creditor. However, there is always a danger that they will apply to challenge the IVA under section 262 as the time for doing so runs for 28 days from the date that they became aware of the IVA.
From this information the landlord will be excluded from the arrangement and cannot pursue you for any liability owing."
The position with my ongoing liability for the lease on my old business premises is that the Landlord has failed to put in any claim for monies he considers due to him by the date required.
My question to my IP was whether this will also now totally exonerate me from any future liability for the lease (which I am still technically liable for) ... the following represents their reply ... but if anyone could give a second opinion on this I would be most grateful as I am still not 100% confident that this liability wont come back to haunt me in the future [:(]
Debbie
"I can advise that Emma has asked our solicitor to confirm the position with the landlord and he has given her the following information:
The legal position is that the lease always remained with the debtor. Accordingly, the landlord is a creditor under section 260(2)(b)(ii) and should be admitted as a creditor. However, there is always a danger that they will apply to challenge the IVA under section 262 as the time for doing so runs for 28 days from the date that they became aware of the IVA.
From this information the landlord will be excluded from the arrangement and cannot pursue you for any liability owing."
)