Restructuring & Insolvency analysis: The Court of Appeal has determined issues surrounding the completion of individual voluntary arrangements (IVAs) and the impact of such completion on the recovery of the proceeds of a debtor’s payment protection insurance mis-selling claim which was unrecovered (and unknown) prior to the completion. Paul French of Paul.French.Insolvency, who acted for the IVA supervisor, reviews the Court of Appeal’s decision.
To continue reading this news article, as well as thousands of others like it, sign in with LexisNexis or register for a free trial
EXISTING USER? SIGN IN CONTINUE READING GET A QUOTE
**Trials are provided to all LexisNexis content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisNexis services please email customer service via our online form. Free trials are only available to individuals based in the UK, Ireland and selected UK overseas territories and Caribbean countries. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
* denotes a required field
Debt relief orders (DROs)What is a DRO?DROs are 'a new and simplified way of wiping the slate clean for debtors who are too poor to go bankrupt'.A DRO is made in respect of qualifying debts.A qualifying debt means a debt which is:•for a liquidated sum payable either immediately or at some future
Restructuring & Insolvency analysis: Insolvency law is set to be relaxed to encourage more banks to offer accounts to undischarged bankrupts. Stephen Hunt, partner at Griffins, looks at the reasons behind the move and whether a change to the law could have any unforeseen consequences.
Effect of an individual voluntary arrangement (IVA)Effect of IVA on unsecured creditorsThe effect of the approval of an individual voluntary arrangement (IVA) is set out in section 260(2) of the Insolvency Act 1986 (IA 1986). This provides that an approved IVA:•takes effect as if made by the debtor
How to effect service of a creditor's bankruptcy petition on the debtor and what happens if service cannot be effectedOnce a bankruptcy petition and supporting documents have been presented (or issued) at court, the first step the petitioning creditor will need to take is to effect service of the
0330 161 1234