PracticeConsultingBKR Haines Watts helps chef with IVA

BKR Haines Watts helps chef with IVA

Celebrity chef Keith Floyd is intending to propose an individual voluntary agreement (IVA) when he meets with creditors in conjunction with his bankruptcy which began in November of last year.

David Coyne of BKR Haines Watts BRI Business recovery practitioners has asked creditors to come forward with proof of debts in the case by 16 March. Coyne was appointed trustee in bankruptcy to Floyd’s estate in December 2000.

‘There are a couple of other creditors that have come forward,’ Coyne told AccountancyAge.com.

‘Floyd is hoping to propose IVAs but it’s at the very early stages.’

The trustee explained that, for the IVA to come through, 75% of the creditors have to agree on the arrangement. Floyd has to convince his creditors that it will be more speedy and beneficial for them to reach a voluntary agreement with them. If the creditors agree on the IVA his bankruptcy order would be annulled which would allow him to work – and would enable him to pay off his debts more easily.

Coyne explained creditors are pursuing Floyd because ‘he personally guaranteed some of the debts of the company he owned that went into receivership’.

Floyd was made bankrupt in November 2000 at the request of Carlsberg and Tetley brewery, to which he owes an undisclosed sum. His company, The Maltings, went into receivership in 1995.

The popular gastronome has been living in Malaga, Spain since the mid-1990s, where he is continuing to work as a TV chef, a writer and a speaker. However, his distance from the UK has not been an impediment to the proceedings.

‘Floyd has been co-operating fully with us,’ said Coyne.

Related Articles

5 tips for SMEs to protect cash flow

Accounting Software 5 tips for SMEs to protect cash flow

5m Alia Shoaib, Reporter
Tyrie on Finance Bill 2017: ‘Making Tax Policy Better’

Consulting Tyrie on Finance Bill 2017: ‘Making Tax Policy Better’

11m Stephanie Wix, Writer
Managing partner Q&A - the year ahead: Richard Toone, CVR Global

Accounting Firms Managing partner Q&A - the year ahead: Richard Toone, CVR Global

12m Kevin Reed, Writer
Deloitte 'self-imposes exile' on government contracts to defuse PM row

Accounting Firms Deloitte 'self-imposes exile' on government contracts to defuse PM row

12m Kevin Reed, Writer
Managing partner Q&A - the year ahead: Julie Adams, Menzies

Accounting Firms Managing partner Q&A - the year ahead: Julie Adams, Menzies

12m Kevin Reed, Writer
Friday Afternoon Live: Deloitte's tech thing; PAC wants HMRC 'contingencies'; and Sports Direct

Business Regulation Friday Afternoon Live: Deloitte's tech thing; PAC wants HMRC 'contingencies'; and Sports Direct

1y Kevin Reed, Writer
Friday Afternoon Live: HMRC complaints rise; Deloitte scoops big audits; and corporate reporting woes

Audit Friday Afternoon Live: HMRC complaints rise; Deloitte scoops big audits; and corporate reporting woes

1y Kevin Reed, Writer
New head of equity capital markets for KPMG

Accounting Firms New head of equity capital markets for KPMG

1y Stephanie Wix, Writer