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I have just happened across the following exposition of bankruptcy's rehabilitative function as experienced by the actor Mr Christopher Biggins. The article, entitled "Christopher Biggins:
'Bankruptcy was the best thing to happen to me", appeared in the Daily Telegraph earlier in the year. Biggins noted:
"I went into voluntary bankruptcy 15 years ago. The trouble with being an actor is that we're still spending money when we're not earning. I didn't know how to stop taking friends to restaurants and drinking champagne and just carried on spending assuming that more work would come.
"This is the ultimate statement of where the law on IVAs is to be found in our great common law...