Putting a Cork in it Insolv Intelligence article.pdf (51.63 kB)
Putting a cork in it : an appreciation of the May 2007 IVA consultation document
journal contribution
posted on 2008-03-11, 09:50 authored by Keith PondThe May 2007 consultation on Individual Voluntary Arrangements (IVAs)
proposes six reforms to current legislation to be enacted via Legislative
Reform Order (LRO). This brief article outlines the six reform areas and
discusses the key reforms against a background of the changes that have
been seen in the insolvency “market” in recent years. The reforms combine
Cork’s practical approach to dealing with smaller debtors with current
budgetary and administrative drivers and 20 years of experience of the IVA
regime.
The “market” driven logic for these reforms is clear. Few commentators
forecast the huge growth in IVA numbers following the Enterprise Act 2002
changes to bankruptcy law. Indeed, the death of the IVA was widely
predicted, yet the underlying growth in consumer credit and its attendant
problems is clearly linked to both bankruptcy and IVA growth.
History
School
- Business and Economics
Department
- Business
Citation
POND, K., 2007. Putting a cork in it : an appreciation of the May 2007 IVA consultation document. Insolvency intelligence, 20, pp. 136-138Publisher
© Sweet & MaxwellPublication date
2007Notes
This article was published in the journal, Insolvency intelligence [© Sweet & Maxwell] and the definitive version is available from: http://www.sweetandmaxwell.co.uk/academic/ISSN
0950-2645Language
- en