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Important announcement regarding Varden Nuttall

Varden Nuttall Limited (‘the Company’) was placed into Administration on 24 March 2016.

The Joint Administrators, Ben Woolrych & Phil Pierce of FRP Advisory LLP and Paul Boyle & Tom Bowes of Harrisons Business Recovery and Insolvency Limited, act as agents of the Company and without personal liability. Paul Boyle & Tom Bowes are licensed by the Insolvency Practitioners Association and Ben Woolrych & Phil Pierce are licensed by the Institute of Chartered Accountants of England and Wales, all Joint Administrators are bound by the Insolvency Code of Ethics.

If my income or expenditure change will my payments also change?

Often yes. The idea of an IVA is that you pay as much as you can reasonably afford. Your proposal (and any modifications by creditors listed in the chairman's report) will clearly state how much you are expected to pay if your income increases, and any flexibility you may have with your monthly payments in case of emergencies. If you are in any doubt over how much you are required to pay, then you should immediately contact your Supervisor.

If your circumstances drastically change in a way that makes it impossible to continue under the agreed terms of the IVA, then your Supervisor may write to your creditors and request that they consider new affordable payments.