IVA termination
The formal ending of an IVA, whether because it has completed, failed or been brought to an end under its terms.
Also known as: IVA
Related terms
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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.
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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 supervisor
The insolvency practitioner responsible for overseeing an approved IVA and ensuring its terms are followed.
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