Individual Voluntary Arrangements
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Commentary
Source Currency: Issue 71, June 2026. The case of Interbay Funding Ltd v Forbes, Seculink Ltd v Forbes [2025] EWCA Civ 690, [2025] 1 WLR 4202, [2026] 1 All ER (Comm) 367, [2025] BPIR 665 , On 1 October 2025, the Supreme Court refused the debtor’s application for permission to appeal A1[32C]. The case of Hopcraft and another v Close Brothers Limited, Johnson v FirstRand Bank Limited (London Branch) t/a MotoNovo Finance, Wrench v FirstRand Bank Limited (London Branch) t/a MotoNovo Finance [2025] UKSC 33, [2025] 3 WLR 423 , On 1 August 2025 the Supreme Court gave judgment in the high profile motor finance mis-selling claims case, this is discussed at A5[11F]. The case of (1) McAteer (2) McAteer v The Progressive Building Society [2026] NICh 4, a decision of Scoffield J delivered on 21 January 2026. Of ultimate importance was the fact that the charge in favour of the secured creditor had priority over any option that might have been granted to the claimants, so there was no serious issue to be tried, and the claimants could in any event be compensated in damages, this is discussed at A6[4]. The case of Re The Company Voluntary Arrangement of Petrofac Facilities Management Limited [2026] CSOH 29 , a decision of Lord Sandison handed down on 25 March 2026, this is discussed at A13[34I]. The case of (1) Importers Service Corporation (2) ISC Europe Limited v (1) Aliotta (2) Aliotta Holdings Limited (3) Aliotta (4) Sleater (5) Whitehead (6) Oakwood Property Solutions Limited [2026] EWHC 533 (Ch) , a decision of Simon Gleeson (sitting as a Deputy Judge of the High Court) handed down on 9 March 2026. In that case, applying the principle that it was not necessary to reach precise valuations of the incoming and outgoing values, it was held that a share disposal entered into for the purposes of putting assets beyond the reach of the claimant, was not at an undervalue. A prior disposal, however, was both, and the effect of it was avoided, this is discussed at A22[9]. he case of Re Keating (Application for Recognition of the IVA of Raymond Hugh Gallogly) [2025] IEHC 766 a decision of Quinn J given ex tempore on 1 December 2025, this is discussed at A23[6].

