Alex Watts : Hello my name is ***** ***** I will help you with this,
Alex Watts : Was the debt incurred prior to the CVA please?
Alex Watts : Ok. Did you make a formal claim when the Receiver dealt with the CVA?
No I basically had an agreement for payment upon a certain timescale of a development and was not made aware of the CVA until I approached them for payment
I feel they dont want me making a noise for some reason and this worries me
I have phone messages aswell as emails whereby they acknowledge that they knew they had the debt with me but that they would rather keep it away from the CVA
Alex Watts : Ok, is it too late for you to submit the debt now?
No its not to late but I would rather see them make payments personally on a monthly basis to me then know that should they stop the payments I have something I can approach the CVA or liquidator to advise that the directors acted irresponsibly
I was just wanting to know what the law was around directors and their actions
whilst in a CVA
this is a hard one as I have received a payment but i do not know how long this will last
so I was kind of thinking of a back up plan should i need it
Alex Watts : Ok when entering a CVA they should give full Dislcosure. That is disclosure of all debts.
Alex Watts : clearly in this case they are not.
Alex Watts : Not only is this dishonest, a breach of the companies act it is also likely to be a breach of the terms of their cva
Alex Watts : Therefore they have a duty of full and honest disclosure, which they are not doing
Alex Watts : The law says they must act in the best interest of their company and declare everything to the insolvency practioner.
Alex Watts : They have not do so. Therefore they are in breach
Alex Watts : You can contact the IP and let them know or continue to have payments direct
Alex Watts : Can I clairfy anything for you about this today please?