A party sought annullment of bankruptcy orders made after their failure to comply with the terms of IVAs. The second claimant said that she had not had capacity to enter into the IVA.
Held: Her appeal failed. A failure to grasp the deail of an arrangement for lack of cpaacity was not enough to undermine the transaction provieded that she ‘ had the ability to absorb, retain, understand, process and weigh information about the key features and effects of the proposed transaction, and the alternatives to it, if they were explained to the person in broad terms and simple language.’
Stephen Jourdan QC
[2016] EWHC 3069 (Ch), 2016] WLR(D) 643
Bailii, WLRD
England and Wales
Insolvency
Updated: 26 January 2022; Ref: scu.571992
