| Commentary

319.1 ‘Eligible’ partnership’

| Commentary

319 Partnership voluntary arrangement with moratorium

319.1 ‘Eligible’ partnership’

An ‘eligible insolvent partnership’ may take steps to obtain a moratorium for the partnership in connection with a proposal for a PVA1. An insolvent partnership is excluded from being ‘eligible’ if2:

  1. 319.1.1

        it is in administration;

  2. 319.1.2

        it is being wound up as an unregistered company;

  3. 319.1.3

        an agricultural receiver has been appointed in respect of the partnership3;

  4. 319.1.4

        a voluntary arrangement already has effect in relation to the partnership;

  5. 319.1.5

        a provisional liquidator has been appointed in respect of the partnership4;

  6. 319.1.6

        a moratorium has been in force for the partnership

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