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| Annual Report 2007 Simplified IVAs (SIVAs) The IPC, together with others on the IVA Standing Committee, was disappointed by the Insolvency Service’s decision in December to withdraw its proposal to introduce SIVAs by means of a Legislative Reform Order. The IPC welcomes the IS’s confirmation that it intends to take another Parliamentary opportunity to remove the requirement on IPs to file IVA proposals at court, but believes that primary legislation to reduce the majority required to approve SIVAs is still desirable. |
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