What are the implications of a company director signing up for an IVA ?

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Glenda

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Post by Glenda » Thu Jan 14, 2016 10:33 pm
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what are the implications of a company director signing up for an IVA?
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Lisa Thomas

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Post by Lisa Thomas » Fri Jan 15, 2016 9:56 am
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Hi Glenda - if your business is already up and running etc I can't think of any issues you might have with this as it is completely separate from your Company. I think it may have caused you issues if you were in an IVA and then tried to start a Ltd Co as you might have had to jump through a few more hoops with the Banking criteria. Someone please correct me if I am wrong here...
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
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lifenoteasy

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Post by lifenoteasy » Fri Jan 15, 2016 9:30 pm
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There are a lot of variables based on nature of company, any other directors, loans etc.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
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Middle

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Post by Middle » Sat Jan 16, 2016 8:01 am
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Some pitches / tenders sometimes have questions specifically asking if any Directors have been bankrupt or have been in an IVA
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Michael Peoples

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Post by Michael Peoples » Sat Jan 16, 2016 5:59 pm
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You need to check the articles of association as you may need to amend these. In addition you would not be able to sign any personal guarantees and existing ones would be included within the IVA.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
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