Mon04242017

Last updateTue, 24 Feb 2015 5pm

INSOLVENCY: Tried and trusted

12 April 2017  

Kathryn Maclennan takes a view on the impact of a recent decision on trusts created by IVAs

The Court of Appeal (CoA) decision in Green (Supervisor of the Voluntary Arrangement of James Patrick Wright) v Wright [2017] was handed down on 1 March 2017 and brings some long-needed clarity to the insolvency industry regarding the position with trusts created by an individual voluntary arrangement (IVA). While that clarity is certainly welcome, the decision given has a number of implications for insolvency practitioners (IPs), debtors and lenders alike.

Additional Info

  • Case(s) Referenced:

    Donnelly v The Royal Bank of Scotland plc [2016] ScotSC 13

    Dooneen Ltd v Mond [2016] CSOH 23

    Green (Supervisor of the Voluntary Arrangement of James Patrick Wright) v Wright [2017] EWCA Civ 111

    N T Gallagher & Son Ltd & anor v Tomlinson & anor [2002] EWCA Civ 404

    Plevin v Paragon Personal Finance Ltd [2014] UKSC 61