Go General Go – Personal Insolvency Agreements and the Inspector General’s Powers to Set Them Aside [2025]

Go General Go – Personal Insolvency Agreements and the Inspector General’s Powers to Set Them Aside [2025]

Traditionally, when a client presents saying that they have received a bankruptcy notice, they are presented with three options:  pay it, prove you are solvent or be made bankrupt.  Part X of the Bankruptcy Act 1966 provides a fourth option by entering into a personal insolvency agreement (PIA).  A PIA is a flexible alternative for a debtor to manage debts, work with creditors and avoid becoming bankrupt. Tristan Cleary will explain how PIAs operate, how they differ from bankruptcy and their advantages for debtors.  Sam Sykes will come at PIAs from a creditor’s perspective, and explain the Inspector General’s, trustees’ and creditors’ powers to oppose and set aside PIAs.

• 1 CPD Point in Substantive Law