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2. What should Miss M do during the IVA application?

Miss M should first propose a Nominee to implement and monitor her voluntary arrangement. She must then submit her IVA proposal and her Statement of Affairs to her Nominee for checking. She should also apply to the Court for an Interim Order (for a 14-day-period in which no other legal proceedings can be taken or continued against her without the Court's permission) to allow the relevant parties to have adequate time for considering or revising her proposal.

 

The Nominee will submit a report concerning her proposal to the Court stating whether a creditors' meeting with Miss M should be held to discuss the proposal. Such a meeting will be held in usual circumstances.

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