IVA failure
The ending of an IVA because its terms have not been met or it can no longer continue. Creditors may then regain rights to pursue the remaining debts.
Also known as: IVA
Related terms
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IVA termination
The formal ending of an IVA, whether because it has completed, failed or been brought to an end under its terms.
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IVA proposal
The formal terms offered to creditors in an IVA, setting out payments, assets, contributions and how creditors would be treated.
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IVA variation
An agreed change to the terms of an existing IVA, usually requiring creditor approval where the proposal or rules require it.
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