The following Restructuring & Insolvency guidance note provides comprehensive and up to date legal information covering:
Produced in partnership with Paul Allen of FRP Advisory LLP
In the matter of the insolvency act 1986
And in the matter of [Insert debtor's name]
[Insert name of county court hearing centre] county court hearing centre
NO. [INSERT COURT CASE REFERENCE]
Individual voluntary arrangement of [Insert debtor’s name]
I [insert nominee's name], an insolvency practitioner with [insert nominee’s firm name] of [insert address of nominee’s firm], and Nominee in relation to the proposed Individual Voluntary Arrangement (IVA) (Voluntary Arrangement) of the Debtor. I was first instructed by the Debtor in this matter on [insert date] who was referred to me by [insert referrer's name]. I confirm that I have read and considered the Debtor’s proposal to his creditors and I would comment as follows:
The Debtor’s proposal to his creditors is based upon [insert basis of proposal, eg contributions, third-party funds etc].
It appears to me that if this Voluntary Arrangement is not approved and a petition for bankruptcy instigated, unsecured creditors can anticipate receiving a much smaller return. This is expanded in greater detail below.
The Debtor's proposal to his creditors briefly comprises of the following:
Preferential creditors will be paid in full.
**excludes LexisPSL Practice Compliance, Practice Management and Risk and Compliance. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and thousands of others like it, sign-in to LexisPSL or register for a free trial.
Existing user? Sign-in
Take a free trial
Take a free trial
0330 161 1234