Andronikou

[Fred Elliot]

And it wouldn't be seen as entering into a new agreement, for that to happen a Creditor's Meeting would need to be called and they would need to approve a new Proposal.

My guess is this £2.3 million has accrued in the 5 years we were in the CVA, so they don't have a claim on the 'pot'.

No it can't have done - if so it would be outside of the CVA. Any new claims must relate to debts incurred prior to the CVA starting in 2002 but which were not accounted for in the original proposal document.

As for the "cut-off" point etc, the CVA proposal is very clear that there is a cut-off (Sept 2002) for any claims not noted in the original proposal, and that after that time any new claims will not ordinarily be admitted except at the supervisor's discretion.

Also any debts incurred AFTER the CVA has been proposed and accepted must be paid in full as normal trading debts

[Simon Pieman]

when it says yet to be adjudicated, does that mean yet to be agreed or to be settled?

[Fred Elliot]

yet to be agreed Si - ie not proof of debt forms have been recieved by AA

[wheretherealredsare]

There are people who send spurious claims in whenever they see CVA's etc, hoping that they will be paid without too much checking. Rather like the invoices for directory entries or, in the good old days, for boxes of carbon paper that never existed.

[pauld]

There are people who send spurious claims in whenever they see CVA's etc, hoping that they will be paid without too much checking. Rather like the invoices for directory entries or, in the good old days, for boxes of carbon paper that never existed.

To the tune of two and a half million quid??

[wheretherealredsare]

Of course! If you think you will only get 10p in the £ or less, inflate the claim.

I was getting more at the fact that AA said he has received 124 unsecured claims totalling £8.2m which have not yet been adjudicated ...
so somewhere between all or none could be spurious.

Is the £5.9m chunk, which is already known about, adjudicated? Presumably 5 years ago when the CVA was established this would have happened so the relevant creditors were allowed to vote? If that is so, the £8.2m is an unbelievable amount of additional claims (not necessarily forgotten debts) and one wonders what is included therein. As claimants need to complete a proof of debt form and return it "if you have not already submitted your claim", could there be even more to come out of the woodwork?