| Commentary

151 Voluntary arrangement

| Commentary

151 Voluntary arrangement

It is open to a debtor, after a bankruptcy order has been made, to make a proposal for an IVA under Part VIII of the Insolvency Act 19861.

Where the creditors decide to approve a proposal made by an undischarged bankrupt, with or without modifications the court is required to annul the bankruptcy order by which he was adjudged bankrupt and give such directions with respect to the conduct of the bankruptcy and the administration of the bankrupt’s estate as it thinks appropriate for facilitating the implementation of the approved voluntary arrangement2. The

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