| Commentary

54 During the moratorium

| Commentary

54 During the moratorium

While a moratorium is in force, the nominee must monitor the company’s affairs for the purpose of forming an opinion on whether the proposed CVA has a reasonable prospect of being approved and implemented and that the company is likely to have sufficient funds available to it during the remainder of the moratorium to enable it to carry on its business1. He should explain to the directors the additional duties which fall on the nominee and the responsibilities which fall on the directors during the moratorium2.

During the moratorium, every invoice, order

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