FRP

This Practice Note discusses how long a typical individual voluntary arrangement (IVA) usually lasts, and what factors are taken into account in determining the length of the IVA, including availability of assets, third party contributions, and monthly voluntary contributions. It also describes what happens if the IVA terms are not met, and the treatment of assets should the IVA fail. This Practice Note is produced in partnership with Paul Allen of FRP Advisory LLP.

This Precedent is a draft proposal for an individual voluntary arrangement (IVA), which will be put to creditors and voted on. It sets out the basic information that is required in an IVA proposal to creditors, together with options for typical terms that may be used. This Precedent is produced in partnership with Paul Allen of FRP Advisory LLP.