7. Can Miss M avoid bankruptcy proceedings against her during the effective period
of the IVA proposal?
Miss M can avoid bankruptcy proceedings if she
complies with her obligations under the IVA.
Under section 20L of the Bankruptcy Ordinance, however, the Court
can still make a bankruptcy order against the debtor if:
- the debtor has failed to comply with the relevant obligations under the
- the debtor provided false or misleading information or omitted items
that were important for considering and approving the IVA proposal;
- the debtor failed to do all such things for the purpose of
the IVA that have been reasonably required by the Nominee of the voluntary