New PPI Guidance in the light of the decision in Green v Wright

The decision in Green v Wright has provided insolvency practitioners with some welcome clarification as to the entitlement to PPI refunds that are received by a former supervisor following the completion of an IVA. The RPBs and R3 have issued some additional guidance for IPs when dealing with PPI refunds in the context of the decision in Green v Wright.

The guidance covers the following matters:

  • Implications of the decision in Green v Wright
  • Whether the PPI refund an asset of the arrangement
  • The effect on any continuing trust of the completion or termination of the arrangement
  • A former supervisor’s obligations in respect of closed cases
  • Unexpected PPI claims in “full and final settlement” cases
  • Documenting strategies, decisions and the reasons for them
  • The importance of communication with debtors
  • Future IVAs

A copy of the guidance is attached to this post or is available on the ICAEW website here.

ICAEW PPI Guidance Review in the light of the decision in Green v Wright_Final .pdf
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