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In short I was a Co Director but the business was then dissolved leaving debts to the company and the HMRC. The IP said the best way was to close all matters was to proceed with an IVA and as the Limited Company was the largest creditor it would vote for the IVA and thus it would be approved.
The HMRC asked the Chairman to exclude the vote of IP on behalf of the Limited Company because it said it was an Associated Creditor? The IP of the dissolved company said we are not as we have no control over the business now or in the future?
I hope this helps...
The Company has been dissolved and we have an IP for the Limited Company and then he referred me to another IP who ran us through the IVA and in that IVA is is covering both our Personal Debts and the Limited Company which I think may well be the Directors Loan Account if I'm mistaken...