What happens to all liabilities in an IVA upon successful completion?

Upon successful completion of an Individual Voluntary Arrangement (IVA), all liabilities are effectively written off. An IVA is a formal agreement between a debtor and their creditors to repay a portion of the debts over a specified period, usually at least five years. If the debtor adheres to the terms of the IVA and makes required payments, any remaining debts after the arrangement is concluded are typically discharged.

This means that creditors cannot pursue the debtor for those remaining amounts once the IVA is completed. The intention behind an IVA is to provide a manageable way for the debtor to repay what they can while offering a clean slate after fulfilling their obligations under the arrangement.

In contrast, the other options do not accurately reflect the outcome of completing an IVA. For instance, debts are not transferred to creditors or required to be paid in full after the IVA concludes; rather, they are written off. The notion that liabilities remain due contradicts the nature of the discharge provided by an IVA. Hence, the correct answer is that upon successful completion, the liabilities are indeed written off.