Title: Personal Insolvency and the Individual Voluntary Arrangement: Theory and Practice
Abstract:The current level of personal bankruptcy in Hong Kong is unprecedented. The numbers have been steadily increasing since the major overhaul of the Bankruptcy Ordinance which took effect in April 1998. ...The current level of personal bankruptcy in Hong Kong is unprecedented. The numbers have been steadily increasing since the major overhaul of the Bankruptcy Ordinance which took effect in April 1998. At the same time, a new insolvency regime - the individual voluntary arrangement (IVA) - was also introduced. It was intended that the IVA would offer an alternative to bankruptcy. Yet, since 1998, there have been only a handful of IVAs. This article examines the key features of the IVA procedure and reflects upon the practical role the insolvency practitioner has to play if an IVA is to be successfully implemented.Read More
Publication Year: 2006
Publication Date: 2006-08-28
Language: en
Type: article
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