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Commentary

120 Petition where IVA in force

BANKRUPTCY AND INSOLVENCY (INDIVIDUAL INSOLVENCY) vol 3(2)
| Commentary

120 Petition where IVA in force

| Commentary

4: OTHER BANKRUPTCY PETITIONS

120 Petition where IVA in force

Where an IVA is in force for a debtor, a petition may be presented by the supervisor of the arrangement or by a person, other than the debtor, who is bound by it1. The court may not make a bankruptcy order on such a petition unless it is satisfied2:

  1. 120.1

        that the debtor has failed to comply with his obligations under the IVA; or

  2. 120.2

        that information which was false or misleading in any material particular or which contained material omissions:

    1. 120.2.1

          was contained in any statement of affairs or other

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