In March of this year the Court of Appeal (“CoA”) handed down the long awaited decision in the case outlined below. This provided clarity to the IVA (Individual Voluntary Arrangements) industry on the issue of trusts within a duly completed IVA and the purpose of a certificate of completion provided to debtor. What comfort can debtors actually take from this document in respect of their liabilities, their assets and how they can know whether their IVA is actually “complete”?
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