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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, Paul Boyle of Harrisons Business Recovery and Insolvency Limited and Ben Woolrych & Phil Pierce of FRP Advisory LLP, act as agents of the Company and without personal liability. Paul Boyle, Ben Woolrych and 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.

Is it true that I can end up paying more than I owe?

You will only be asked to pay more than originally agreed if your income significantly increases or if you receive a windfall, i.e. inherit money during the course of the IVA. The key is that an IVA must be affordable, and it must be fair. If you can afford to, you could be asked to pay your debts in full plus statutory interest and the costs of the Arrangement.