Mid-tier firm Grant Thornton has welcomed government plans aimed at making it
easier for heavily indebted consumers to take out Individual Voluntary
Arrangements as an alternative to bankruptcy and debt management plans.
The firm issued a statement after the government formally published responses
to the Insolvency Service’s Working Party consultation recommending a Simple
IVA, known as the SIVA, designed to speed up and simplify the process for
The new SIVA, which is expected to become law in Autumn 2007, will make the
debt repayment program more accessible for those heavily in debt.
Mark Allen, partner within Grant Thornton’s personal insolvency practice
commented: ‘As a member of the Insolvency Service’s Working Party, I welcome the
consultation responses which will ensure that both the creditor and the consumer
get a fair deal.’
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children