As far as I am aware there would be two separate creditors meetings -- one for each, probably one after the other -- and, yes, different results could come about.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Good luck with the meetings I am in process of doing a ff . Bet the meetings hardly last any time at all just a quick yes no vote but then I guess that's all is needed
"Since it cost a lot to win
and even more to lose
You and me bound to spend some time
wondring what to choose
Wait until your deal come round
Don't you let that deal go down"
Robert Hunter, Jerry Garcia 1971
It`s a self-employed Partnership IVA Mel, so while we have 2 separate IVA accounts, we both have ownership of a business even though Mrs H has only minority status.
Our F&F was for 2 interlocking IVAs. My husband's was agrred by 78% of the creditors but mine only got 70%. Although if you combined the debt and votes, we got an acceptance of 76%, they were considered separately, so basically both were rejected (initially).
There is no such thing as a combined IVA, so no real point in comparing the voting outcome by pooling all of the debts into one pot. But irritatingly close, when looking at the comparison, nevertheless.
When I see things like this, I really do think it is unfair that we still have to have a 75% acceptance rate in IVAs, when all other forms of insolvency are governed by simple majorities.
It's a bit like having a Coalition government - the minority can dictate the outcome as they hold the balance of power. In my case, the creditors owed the most all accepted, it was the small creditors who objected, and the modifications they were demanding would have made very little difference to them due to the amount of debt they were owed. Very frustrating!
