IVA cases are not owned by the companies but by the Insolvency Practitioners personally, so in the event of a company falling insolvent this may not affect the cases at all. If the IP themselves could not continue to trade, due to financial difficulties, then they would try and transfer the cases to another firm, or at worst case their regulators would step in and effect a transfer.
Whatever happens, this should not affect the smooth running of the case.
im sure there has to be some small print to show that monies paid will be honoured if this situation ever arose however im definitely not an expert and will leave a pro to explain the legalities
The monies paid into an IVA by an IP's client, which have not yet been distributed to creditors, will be covered by an insurance policy that each IP is required to take out as part of their work.
