Expert Advisor

Predicate trial – case being prosecuted by the Department for Business Innovation & Skills.

The defendant entered into an IVA in July 2010. In addition to his other creditors, he stated that he owed his wife over £100,000 in respect of loans that she had made to him to help keep his sole trader business afloat. This allegedly gave his wife the majority vote at the creditors meeting and as a consequence the IVA was approved. The wife waived her right to any dividend payments.

The Prosecution allege that the defendant made a false declaration in relation to the amounts that were said to be owed by him to his wife. On closer inspection, the Prosecution asserted that most of these loans were repaid.

The defendant faces charges of making false representations in connection with the IVA arrangement. Our analysis of the banking material disclosed supports the defendant’s assertions that at the date of his IVA, he did owe his wife in excess of £100,000.