Does all contracts ceased with IVA?

[bobogosing]

Hi all,

Asking this question for a friend. Hope someone can help and thank you in advance.

My friend started his IVA journey 1st March 2015.<br><br>His creditors

1.Landlord (commercial business with 15 years lease remaining but stupidly, my friend used his name to guarantee the term of lease even though its a Ltd company business ) Owes 5 years of rent

2.Council (business rates)
Owes 5 years of business rates

3.Credit cards x 5


All his creditors have accepted his IVA proposal. The problem is, the council is chasing him for a new debt as the business rates starts 1st March 2015. Therefore, they are saying his new debt is not covered by IVA.

Question is, when the landlord have accepted his IVA, surely his 15 years lease contract should end or ceased, yes?
Council should send new bill out to landlord? They know his not trading there anymore as the bill is for empty property.

Hope I have posted on the right section.

bobo x

[Deepie]

Re: Does all contracts ceased with IVA?

Not sure about the IVA ....

Can I ask about the business rates ?


I've not paid any now for 3 /4 years ......

See here ----- > https://www.gov.uk/apply-for-busines...elief/overview

[bobogosing]

Re: Does all contracts ceased with IVA?

Hi Deepie!

His IVA is "Individual Voluntary Arrangement"
He was actually advised by the business rates officer to go into IVA as he owes the council thousands of pounds for not paying 5 years. Bailiffs were non stop hounding him.

The question is, since the council and landlord has accepted his IVA, the remaining 15 years lease with the landlord should be ceased, yes?
All new rates invoices for the property should be sent to landlord and not my friend??