| Commentary

25 Effect of CVA moratorium

| Commentary

25 Effect of CVA moratorium

The moratorium takes effect when the relevant documents are lodged in courtand ends at the end of the day on which the later of the creditors’ and company meetings, to approve the proposals which will form the basis of the company voluntary arrangement (‘CVA’), is held1. These must both be held during the period of 28 days beginning with the day the moratorium takes effect, and if they are not the moratorium ceases automatically on the 28th day2. There is power to extend the moratorium if both meetings agree upon an adjournment or series of

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