IVA variation
An agreed change to the terms of an existing IVA, usually requiring creditor approval where the proposal or rules require it.
Also known as: IVA
Related terms
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Variation
An agreed or authorised change to the terms of a contract, guarantee, loan, IVA, CVA or other arrangement.
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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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