This depends on a number of factors so I suggest you obtain legal advice or ask the IP how they feel that they can recover this money. You can then check what they say against that of your solicitor.
In theory the trust still endures, unless specifically severed at cancellation and, as Michael says, you might need specialist advice. To be honest, due to the time passed, I doubt your former IP would pursue it -- but that cannot be relied upon.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
