Two creditors’ meetings: which claims will be compromised?

By Negeen Arasteh

If two or more creditor meetings are needed to approve an individual voluntary arrangement (IVA), the IVA will bind any creditor whose claim against the debtor arose after the first meeting.

The IVA binds all creditors’ claims that exist as at the date of the meeting at which the IVA is approved.

An IVA was proposed to creditors by Mr and Mrs Davis and approved. Mr and Mrs Price were significant creditors…

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