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English court rejects second IVA after good faith breach

By Douglas Thomson

17 July 2019

English court rejects second IVA after good faith breach The judge accepted the new IVA constituted a second bite at the cherry, but ruled this was not an abuse of process. / istock.com/karenbarnard

An English judge has ordered a British property tycoon into bankruptcy after four years of proceedings, refusing to adjourn for his second proposed individual voluntary arrangement where the largest creditor would be voting for an outcome it had little interest in.