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Posted: Tue Jul 08, 2008 7:21 pm
by john.jk
Please could you tell me how the votes are given from the creditors to say yes or no to the PROPOSAL ? And do the creditors with the higher debts have more say in the yes or no vote ! What percentage of the votes need to be yes to get approved ?
Thanks x
Posted: Tue Jul 08, 2008 7:28 pm
by TheMatrix
at least 75% of the votes by the amount of debt is needed for it to be accepted.
If one of your creditors do not vote then this is counted as they accept the proposal.
Posted: Tue Jul 08, 2008 7:33 pm
by pbeck
Actually, if one or more of the creditors don't vote, then it is counted as an abstention, you need 75% by value of creditors, you can read my article here
http://www.iva.co.uk/community121/commu ... .asp?id=29 to get more detail.
Posted: Tue Jul 08, 2008 7:34 pm
by pbeck
Sorry, something got missed off there, I meant to say "75% by value of creditors voting at the meeting either in person or by proxy"
Posted: Tue Jul 08, 2008 7:46 pm
by Soulgrowth
Like the photo Philip [;)]
Will you be joining us in Bradford at the weekend?
Debbie
Posted: Tue Jul 08, 2008 8:58 pm
by pbeck
I didn't know what was happening in Bradford at the weekend.
Actually I'm off to an Insolvency Conference this weekend, if any of the other IPs read this post, it's here
http://www.sesca.co.uk/sesca_insolvency ... e_2008.htm , probably too late to book now, but it's a damn good conference, similar to the R3 SPG conference.
Posted: Wed Jul 09, 2008 12:12 am
by MelanieGiles
Think I'll pass on that!
See you in Bradford Debbie.