61.1 Voluntary arrangements

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BANKRUPTCY AND INSOLVENCY (CORPORATE INSOLVENCY) vol 3(3)

61.1 Voluntary arrangements

Copyright © 2025 LexisNexis

| Commentary

61 Relation to other insolvency procedures

An exit from the administration procedure may well be by or involve the company voluntary arrangement (‘CVA’) procedure. As originally

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C: ADMINISTRATION

61.2 Compulsory and voluntary winding up

61.3 Administrative receivership

62 Practical objects of administration

63 Pre-administration costs

64 Insolvency

65.1 Overview

65.2 First object: rescuing the company as a going concern

65.3 Second object: achieving a better result for the company’s creditors as a whole than would be likely if the company were wound up (without first being in administration)

65.4 Third object: realising property in order to make a distribution to one or more secured or preferential creditors

66 Is a court application necessary?

67 General court procedure in insolvency

68 Particular procedure in administration

69 Who may apply?

70 Evidence in support of application

71 Independent statement

72 Filing and service of application

73 Unsecured creditors

74 Time and mode of service

75.1 Application by qualifying floating charge holder

75.2 Application where company is in liquidation