builders rules - only pay 25% of your debts!

B

BoscoTalking

Registered User
Messages
317
[broken link removed]

Not alone are they allowed to continue telling overprices houses to first time buyers they have set a benchmark that big developers need only pay 25% of debts, and thats ok. I wonder if the small subcontractors can go to their banks and get 75% of their loan/overdraft written off.

Its so unfair that is sickening.
 
" The company is proposing that creditors will be paid 25% of the monies owned to them within 30 days of court approval of the scheme.

A second payment of 25% will be made 365 days after the court approval and the final 25% paid “in the event the company can afford to do so” bringing total payment to unsecured creditors to 75%.

“The trigger event for the third payment of 25% is an occasion which will occur when the net assets of the company exceed €5.6 million"

not really accurate van driver - pay 25% now and 25% a year from now suggesting these small companies are still in business and maybe a further 25% if they manage to exceed 5.6 million which would undoubtedly be a long long time to come...
 
You must log in or register to reply here.
Back
Top