Interim Order
If you are experiencing significant and immediate pressure from
your creditors, such as threats of legal action or bankruptcy
proceedings, you may well benefit from the protection of an Interim
Order.
An individual who is intending to propose an IVA can apply
for an Interim Order with the assistance of their nominee (licensed
insolvency practitioner).
An application for an interim order is made to the court which
requests that you are given a period of time (usually 28 days)
within which to make a proposal to your creditors.
If granted, the interim order prevents all creditors from
pursuing any legal proceedings against you. If legal proceedings
have been commenced, then they are frozen at the stage they have
reached.
During the period when you have interim order protection your
creditors can then consider whether or not to agree to the terms
you have proposed.
You should note that it is only possible to apply for one
interim order during a 12-month period.
Do I qualify for an IVA?
