If the IVA nominee has two valid proxy votes dated two days apart from a majority creditor at the time of the Creditors Meeting and the later and higher one is rejected by the debtor, but the earlier and lower one is accepted by the debtor, does the earlier one that is accepted still stand good and should go through at the Meeting, please anyone ?
If you are talking about BR then there are no votes.
If talking about an IVA then you need 75% by value of the creditors that vote on the day to agree,
The debtor cannot reject the votes, they can rejec the whole IVA though if there are any modifications that they don't like or cannot manage.
The debtor will not normally know of the voting position until the time of the meeting.
Ascend may you find no resistance Know that you made such a difference All you leave behind will live to the end The cycle of suffering goes on But memories of you stay strong Someday I too will fly and find you again
If the nominee has two valid votes ?
Posted - 15 June 2012 : 12:10:05
