| Commentary

72 ‘Fast-track’ voluntary arrangements

| Commentary


72 ‘Fast-track’ voluntary arrangements

This procedure has been abolished and the legislation repealed1.

Whilst it was in force, a debtor could propose a ‘fast-track voluntary arrangement’ to his creditors where the following conditions were satisfied:

  1. 72.1

        he was an undischarged bankrupt;

  2. 72.2

        the Official Receiver was specified in the proposal as the nominee in relation to the voluntary arrangement; and

  3. 72.3

        no interim order was applied for.

The debtor submitted his proposal to the Official Receiver who (provided that he thought the proposal had a reasonable prospect of being approved and implemented) could ‘make

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