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A reminder from the Insolvency Service on filing a report of an approval of an IVA with the Secretary of State

Dear IP issue 113, dated November 2020, included a reminder of the requirements when filing a report of an approval of an IVA with the Secretary of State.

Rule 8.26 (2) of The Insolvency (England and Wales) Rules 2016 requires that:

The report must be delivered as soon as reasonably practicable, and in any event within 14 days after the report that the creditors have approved the IVA has been filed with the court under rule 8.24(3) or the notice that the creditors have approved the IVA has been sent to the creditors under rule 8.24(5) as the case may be.

We have been advised by Insolvency Service of several instances of late filing and would ask all members to review their processes for filing these reports to ensure that they are compliant.