Why should you subscribe to Individual Voluntary Arrangements
A clear, authoritative guide, available as a print subscription or as part of LexisLibrary, that has become an essential reference tool for all debt advisers, insolvency practitioners, lawyers advising insolvency professionals and creditors or debtors during both the preparation of an IVA and following its approval.
Written by a team of experts in the field, the looseleaf format with its regular updates ensures you are kept fully informed of the relevant case law and changes to practice and procedure. All the latest developments are examined in detail and invaluable, practical guidance is provided to navigate you through this complex area of law.
Remaining the most popular form of personal insolvency process, IVAs represent 61% of the total number of personal insolvencies commenced in the second quarter of 2017 according to the latest statistics released by the Insolvency Service on 27 October 2017. In that same period, the number of IVAs reached the largest quarterly number of IVAs since they were introduced in 1987.
Much of the case law in relation to IVAs has centred on challenges to the approval of IVAs. However two recent cases have considered issues arising at the end of the IVA, and to what extent and in what circumstances a debtor is released from their debts. Read more about these cases...
Table of contents
Issue 46, February 2018
Issue 46 considers the following:
- The decision in Green v Wright provided clarity as regards the application of post-completion realisations in respect of arrangement assets. R3 and the RPBs have issued further guidance titled ‘PPI Guidance Review in the light of the decision in Green v Wright’ and the Insolvency Service has provided similar guidance in ‘Dear IP 78’. The guidance is discussed in detail at A5[11C] and A17[83A] and has been added to Part D.
- The decision in Rossair Ltd v Primus Build Ltd  EWHC 2430 (TCC), which shows that if a defendant against whom the adjudication is sought to be enforced seeks a stay of enforcement pending the approval of a CVA, the defendant at the very least has to adduce sufficient evidence as to the CVA on which the court can exercise its discretion. The decision is noted at A12.
- The appeal in NRAM plc v (1) Evans (2) Evans  EWCA Civ 1013,  BPIR 1273 as to the extent to which the entries at HM Land Registry might be altered in respect of a mistakenly released charge is noted at A6.
- • The decision in The Co-Operative Bank plc v Philips  EWHC 1320 (Ch),  BPIR 1156 is considered at A5 on limitation issues upon the approval of an IVA and A17[79A] on the effect of the expiry of an IVA where no completion certificate or otherwise is served. The debtor’s application for permission to appeal was dismissed. The issue as to the extent to which a debtor may use s 263(2) of the Insolvency Act 1986 to seek directions against a former supervisor, also considered at A17[79A], therefore appears unresolved.