Commentary

73 Bankruptcy order despite voluntary arrangement

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

73 Bankruptcy order despite voluntary arrangement

| Commentary

G: INDIVIDUAL VOLUNTARY ARRANGEMENT AND BANKRUPTCY

73 Bankruptcy order despite voluntary arrangement

There are two circumstances in which the existence of an IVA does not protect the debtor against the presentation of a bankruptcy petition1. First, a creditor whose debt arose after the IVA will not be affected by it and may present a petition against the debtor. Second, a petition may be presented by the supervisor or any creditor bound by the IVA where the debtor is in default2.

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