The following Restructuring & Insolvency practice note produced in partnership with Lexa Hilliard QC of Wilberforce Chambers provides comprehensive and up to date legal information covering:
An application can be made to challenge the approval of a company voluntary arrangement (CVA) on one or more of these grounds:
that the proposal, or aspects of it, did not constitute a composition or arrangement within the meaning of IA 1986, s 1(1)
that the arrangement unfairly prejudices the interests of a creditor, member or contributory of the company
that there has been some material irregularity at or in relation to the meeting of the company or in relation to the relevant qualifying decision procedure (see SIP 6)
Although the route to challenging a CVA (or IVA) is via the statutory provisions in IA 1986 Part I and
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