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Posted: Mon Nov 04, 2013 5:43 pm
by deepinit
Hi , I have just received my paperwork with regards my F&F which was accepted and I noticed that of all my creditors and debt only 3 voted and the total was less than a 1/3 of debt, what would of happened if none of the creditors would of voted?
Posted: Mon Nov 04, 2013 5:47 pm
by sponge
like with your original proposal, it's those that turn up on the day (I thnk?)creditors that is
Posted: Mon Nov 04, 2013 5:49 pm
by nickjohn
you have to achieve a 75% vote in favour of any proposal on the day, the % is based on the value of the money owed.
If no one turns up then another meeting must be held, I think - but may be wrong - if only 1 turns up then whatever they vote for goes as they represent over 75% on the day.
Posted: Mon Nov 04, 2013 8:16 pm
by MelanieGiles
It would be a very rare occasion for no creditors to turn up and vote - but if this was the outcome on the day, then the meeting would get adjourned whilst the IP chased along creditors to see why they had not taken part.