what happens

[stev0]

if all the creditors who vote, vote yes, but they only constitute say 50% of the debt.

The other 50% dont vote either way, is the IVA rejected then?

[Skippy]

For your IVA to be agreed you need 75% of votes on the day to vote yes, so in your scenario the IVA would be accepted.

[stev0]

thanks skippy, thats interesting. so in theory if my 3 smallest creditors were the only one's to show up and voted yes the others would have to accpet

[Skippy]

That's right - strange isn't it?!?!

I seem to remember someone posting on here that an IVA had been accepted with only the smallest creditor voting.

[Adam Davies]

Hi
Yes, just one creditor voting on the day, and who says yes, will mean that all creditors are bound by the IVA.
Regards

[MelanieGiles]

I once got an IVA accepted on the back of a dentist's £140 bill. It was the only vote, but it constituted 100% acceptance.