Commentary

74 Effect of bankruptcy order on voluntary arrangement

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

74 Effect of bankruptcy order on voluntary arrangement

| Commentary

74 Effect of bankruptcy order on voluntary arrangement

Although the Insolvency Act 1986 envisages that a bankruptcy order may be made against a debtor who is subject to an individual voluntary arrangement, it makes no provision with respect to the IVA on the making of an order. It would not appear to be open to the supervisor to apply to the court for directions to determine the IVA solely on the basis of a bankruptcy order, as this is not a matter ‘arising under the voluntary arrangement’1. Accordingly, it is important that the nominee and the creditors should consider and

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