IVA implications on divorce settlement?

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Post by vicki.ce » Thu Jul 29, 2010 7:11 pm
My friend is divorced and going through a settlement. She is entitled to half of her ex husband's (and her) property and was in the court when he announced he had declared an IVA. Neither she nor her lawyers had been informed. The property is worth over 1.5m, she has received nothing for the past 5 years and if he can do this without consulting her she will get nothing for another 5 years - she has no income and owes rent arreas etc. She is desperate. Can he do this without her knowledge or consent. Please can you help


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Post by MelanieGiles » Fri Jul 30, 2010 1:09 am
It is possible to do this, but I wonder how he got round to the equity release provisions that he would have probably been bound by.

Difficult to advise without specific knowledge of his case - I would leave it to your friend's lawyer to unravel.
Regards, Melanie Giles, Insolvency Practitioner
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