interim charging order over my property

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sam_

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Post by sam_ » Wed Jun 13, 2007 7:47 pm
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If somebody has an interim charging order over my property and I enter into an IVA before the final charging order is made, will the interim order fall by the wayside or will it be considered secure, i.e. will entering into an IVA defeat the 'security'?
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MelanieGiles

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Post by MelanieGiles » Wed Jun 13, 2007 8:31 pm
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Hi sam and welcome to the forum

If the IVA is in place before the charging order is finalised, then it will be defeated. Indeed there is caselaw which states that if the creditors has been put on notice of an impending IVA, by the serving of proposals upon it, then any final charging order made prior to the formal acceptance of an IVA is also invalidated.

Get your IP to get their skates on!

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk
Regards, Melanie Giles, Insolvency Practitioner
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