| Commentary

325 Implementation and challenge

| Commentary

325 Implementation and challenge

The PVA is implemented by the nominee, or his replacement, who becomes the supervisor and is subject to the control of the court. The supervisor may seek directions from the court in relation to any particular matter arising under the PVA1. There is a right of challenge to the PVA on one or both of two grounds2:

  1. 325.1

        that the PVA unfairly prejudices the interests of a creditor or partner; and

  2. 325.2

        that there has been some material irregularity at the meeting of the members of the partnership or in relation to the relevant qualifying decision

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