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Information that must be contained in an IVA

An IVA must contain the following information:

• Details of the assets to be included and excluded

• Details of liabilities

• How each category of creditor is to be dealt with and dates for distributions

• Proposed duration

• If a sole trader how the business is to be conducted during the arrangement

• How distributions and collections will be dealt with

• Amount of Nominees fees

• Supervisors functions

• Details of the Supervisor

• Comparison between an IVA and bankruptcy

The IVA must also explain why the creditors will be better off by accepting the IVA proposed, rather than electing for bankruptcy.