showtime69 514 Posted May 29, 2012 Share Posted May 29, 2012 has been on SSN for the past 2 days saying its 75% of creditors we need to agree to the cvai thought it was 75% of money owed??also my mate is studying law and he says its 75% of money owedis Shanley an idiot? sky shouldnt be employing clowns like this if they cant get the facts rightps if he is right i apologise and im happy to admit im a clown instead lol Quote Link to post Share on other sites More sharing options...
Reservoir Dug 5 Posted May 29, 2012 Share Posted May 29, 2012 hes wrong Quote Link to post Share on other sites More sharing options...
JCDBigBear 10,809 Posted May 29, 2012 Share Posted May 29, 2012 has been on SSN for the past 2 days saying its 75% of creditors we need to agree to the cvai thought it was 75% of money owed??also my mate is studying law and he says its 75% of money owedis Shanley an idiot? sky shouldnt be employing clowns like this if they cant get the facts rightps if he is right i apologise and im happy to admit im a clown instead lol75% of money. Quote Link to post Share on other sites More sharing options...
ritchieshearercaldow 22,123 Posted May 29, 2012 Share Posted May 29, 2012 has been on SSN for the past 2 days saying its 75% of creditors we need to agree to the cvai thought it was 75% of money owed??also my mate is studying law and he says its 75% of money owedis Shanley an idiot? sky shouldnt be employing clowns like this if they cant get the facts rightps if he is right i apologise and im happy to admit im a clown instead lolI know fuck all but what if there was only 2 creditors, how would you get 75% if one disagreed? Quote Link to post Share on other sites More sharing options...
OlegKuznetsov 10,816 Posted May 29, 2012 Share Posted May 29, 2012 This is old knowledge.Creditors representing 75% of the debt must vote in favour. Quote Link to post Share on other sites More sharing options...
The Dude 20,026 Posted May 29, 2012 Share Posted May 29, 2012 Its 75% of the total value. However the value of the debt is only calculated by the Creditors which Vote. ie. HMRC not voticg could change everything.EDIT: IT is 75% of the total value of the debt owed to those who have voted. Quote Link to post Share on other sites More sharing options...
showtime69 514 Posted May 29, 2012 Author Share Posted May 29, 2012 This is old knowledge.Creditors representing 75% of the debt must vote in favour.aye mate thats what i thoughtShanley was outside Ibrox yesterday and said it was 75% of creditors and today he was outside the court in Edinburgh and said something along the lines of "HMRC and tickets being the main creditors but there are more and 75% of them are needed"guy is a fudd Quote Link to post Share on other sites More sharing options...
nachothelegend 1,932 Posted May 29, 2012 Share Posted May 29, 2012 This just sums up the MHedia. Quote Link to post Share on other sites More sharing options...
El Carpintero 546 Posted May 29, 2012 Share Posted May 29, 2012 Like most Sky people these days, Shamley is clueless. Quote Link to post Share on other sites More sharing options...
legalbeagle 3,734 Posted May 29, 2012 Share Posted May 29, 2012 I know fuck all but what if there was only 2 creditors, how would you get 75% if one disagreed?Well, you wouldn't. Quote Link to post Share on other sites More sharing options...
Mitchy1094 3 Posted May 29, 2012 Share Posted May 29, 2012 It's 75% of the total debt. Tempted to pap a picture of the statute books, send it to sky and ask them to get something right for once. Quote Link to post Share on other sites More sharing options...
The Dude 20,026 Posted May 29, 2012 Share Posted May 29, 2012 2.1 A CVA is a formal procedure pursuant to Part I of the Act which enables a company to make a proposal to its creditors and its members for a composition in satisfaction of its debts. It requires the approval of 75% or more in value of the creditors, and more than 50% in value of the members, voting on the resolution.75% of the total debt. End.Except the bit that says 'voting on the resolution'.If i owe creditors £1000 (1 person £400 + 6 others £100 each) if the creditor owed £400 cose not to vote I would only require 75% of the remaining £600 Quote Link to post Share on other sites More sharing options...
The Dude 20,026 Posted May 29, 2012 Share Posted May 29, 2012 Not true, if the person owed £400 rejected a CVA, then by proxy the maximum percentage of debt you could agree to have dealt with by a CVA would amount to 60%. Ergo, no go.Right?yes but if they didn't vote how can they reject it? Quote Link to post Share on other sites More sharing options...
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