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Insolvency – Individual voluntary arrangement. The respondent former debtor's individual voluntary arrangement had been successfully completed and the appellant former supervisor had issued a completion certificate, under para 9(2) of the R3 Standard Conditions (version 2), before further funds had been received. The county court held that the funds should be paid to the respondent and the appellant appealed. The Chancery Division, in dismissing the appeal, held that para 9(2) of the Standard Conditions operated to release a debtor from all debts subject to the arrangement and meant that the arrangement had come to an end. Accordingly, the county court had reached the correct conclusion.
Insolvency – Individual voluntary arrangement. The respondent former debtor's individual voluntary arrangement had been successfully completed and the appellant former supervisor had issued a completion certificate, under para 9(2) of the R3 Standard Conditions (version 2), before further funds had been received. The county court held that the funds should be paid to the respondent and the appellant appealed. The Chancery Division, in dismissing the appeal, held that para 9(2) of the Standard Conditions operated to release a debtor from all debts subject to the arrangement and meant that the arrangement had come to an end. Accordingly, the county court had reached the correct conclusion.
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