What is the role of an Insolvency Practitioner in an IVA?
An Insolvency Practitioner (IP) has a duty to ensure a fair balance between the interests of the client (your interests) and the creditors. Before the creditors’ meeting an IP acts as your Nominee and practically assists you with the arrangement. After the creditors meeting and the acceptance of an IVA an IP starts acting as a Supervisor of the arrangement. Supervisor’s duty is to make sure that you and your creditors adhere to the terms of an IVA.
