Hi Mick .. as I see it, in theory, the monies you have paid into your IVA belong to your IVA estate, not to your IP, nor to his company. They will be held in a separate client account.
If the company goes west, your IP remains your IP and you, and your funds, will go with him, unless arrangements have been made by another firm to buy your case.
As such the funds in your IVA are still "available" to your IP, but only for the purposes of administering your arrangement
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I really do think that this firm should have written to all IVA clients to put them in the picture of what is happening with the company - and where the cases have been transferred to.
