Simplified IVA plans withdrawn
Anyone with an interest in IVAs (Individual Voluntary Arrangements) will probably have heard about the fate of the SIVA (Simplified IVA).
The Insolvency Service has announced that plans to introduce SIVAs have been withdrawn, stating that the ‘successful operation of the IVA Protocol has resulted in many of the desired improvements in the IVA marketplace being implemented without the need for further legislation’.