Hello mcbz9,

Objections in Trust Deeds are common and I know the team handling your case will be working hard to overcome them.

The point that you make about the return to creditors from sequestration is a good one. Creditors are normally "commercial" in their outlook and I do hope that this will all be sorted out for you soon.

Hi Trust Deed Assistant. Thanks for your response. Hopefully the objections will be withdrawn, and I can move on with things. One positive may be that it is the trustee's fees that are the issue, so hopefully that means they have accepted my contribution, and statement of expenditure etc. I would hope that the IP can reduce their fees to allow the deed become protected.

I do think you're in good hands with this firm. We've visited the Glasgow office of Tenon and I know they will be working hard to overcome the objections if at all possible.

Creditors do have the right to object to Trust Deeds if they wish and so there will always be some cases that do not secure creditor support even though the proposals seem fair and reasonable. Trust Deed firms also have the right to a reasonable fee for the work that they do. Overall the great majority of cases do achieve agreement and protection as it is generally in the interests of everyone involved for this to happen.

Hi mcbz9

Hopefully this will be just a temporary setback - there is often room for negotiation and more often than not objections can be successfully overturned. Different creditors have different views on what they see as acceptable and it can be more a slightly more difficult process sometimes if a sufficiently large proportion of the debt is owed to certain creditors.

If you'd like to contact me off-line with your details then I am happy to see what I can do to try and help things along...

Thanks Kevin. I'm confident the TD will go through, however it is just a worry at the moment. Appreciate your offer of help. Will try and contact you off line.

I've spoken with your case manager in Glasgow, mcbz9, and the good news is that the objection has been removed, so your trust deed is to become protected after all.
It was actually a very minor problem which was ironed out easily without any amendments to the proposal required.

Have a good Christmas

Kevin

Fantastic! Many thanks Kevin.

This site has provided great advice during the whole process. It will be a huge relief to get things sorted.

Well done mcbz9; I'm delighted that you can now start to put all of this behind you.

Congratulations to Kevin and the team at Tenon as well for all of their hard work and professionalism.