Commentary

70 Supervisor’s duties on completion of arrangement

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

70 Supervisor’s duties on completion of arrangement

70 Supervisor’s duties on completion of arrangement

Not more than 28 days after the full implementation or termination of the IVA the supervisor must deliver a notice that the IVA has been fully implemented or terminated to the debtor and the creditors bound by the IVA. The notice must state the date the IVA took effect; and must be accompanied by a copy of a report by the supervisor which:

  1. 70.1

        summarises all receipts and payments in relation to the IVA;

  2. 70.2

        explains any departure from the terms of the IVA as approved by the creditors; and

  3. 70.3

        if the

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