I

Interim Order

In general terms an interim order is a temporary court order. Usually it is valid only until the court hears the full case and rules. Note that the final decision of the court might be entirely different from the interim order. In case of an IVA, the meaning of an interim order is very similar: the person who initiates the individual voluntary arrangement may apply for an interim order which precludes any legal proceedings during the term of the order. Such legal proceeding might be bankruptcy, and having an interim order means that the creditors are not allowed to file for the debtor's bankruptcy until the interim order is in force. Its goal is to provide some stability until the court makes a final decision. Just like it was stated above, in case of an IVA the final ruling might be different from the interim order. Also, it is not compulsory to obtain such an order to propose an individual voluntary arrangement.