| Commentary

321 Contents of the proposal

| Commentary

321 Contents of the proposal

The proposal must contain a short explanation why, in the opinion of the partners, a PVA is desirable, and why the creditors may be expected to approve the arrangement1. The following matters must also be stated or otherwise dealt with in the proposal (and suitably adapted for the case of a partnership)2.

  1. 321.1


    1. (a)

          the partnership’s assets, with an estimate of their respective values;

    2. (b)

          which assets are charged and the extent of the charge;

    3. (c)

          which assets are to be excluded from the PVA; and

    4. (d)

          particulars of any property to be included

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