What is the process of an IVA Variation?
For the variation meeting a new proposal will need to be drafted, stating the reason for the meeting and the changes to your original proposal, which you will need to agree with and sign. If you are happy with the proposal it will be sent to your creditors for them to consider. The meeting will have the same rules as the first one, there needs to be at least 75% of voting creditors by value in support of the proposal.
