Individual Voluntary Arrangements Service
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 47, June 2018
Issue 47 includes the decision In the matter of SHB Realisations Ltd (formerly BHS Ltd) (in Liquidation); (1) Wright (2) Rowley (as Joint Liquidators of SHB Realisations Ltd) (formerly BHS Ltd) (in Liquidation) v Prudential Assurance Co Ltd  EWHC 402 (Ch), at A6. It was held that where a rent concession was provided for during the IVA, a provision that retrospectively restored the original rent for that period in the event of unsuccessful termination of the IVA did not amount to a penalty. The judge’s comments as to a voluntary arrangement, despite being a statutory tripartite contract, not bearing all the hallmarks of an ordinary contract, are noted at A1–.
The outcome of a rare prosecution, of Andrew Camilleri, for making false representations in an IVA proposal is noted at A2 and
This issue contains the latest version of the Standard Conditions for Individual Voluntary Arrangements, Version 4, January 2018. It also features the new Insolvency Proceedings Practice Direction and updated versions of the precedents in Part B.