| Commentary

71.1 Voluntary arrangements

| Commentary

71 Relation to other insolvency procedures

71.1 Voluntary arrangements

An exit from the administration procedure may well be by or involve the company voluntary arrangement (‘CVA’) procedure. As originally enacted, the CVA provisions did not contain a moratorium procedure so that unless an administration order was first obtained, there was a risk of action by an individual creditor or creditors (such as the presentation and prosecution of a creditors’ winding-up petition) in the time it took to formulate and gain approval for the proposals for the voluntary arrangement1. By subsequent enactment, in some cases, there now is a

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