Creditors’ consideration of CVA proposals—the position under the Insolvency (England and Wales) Rules 2016
Produced in partnership with William Willson of South Square
Creditors’ consideration of CVA proposals—the position under the Insolvency (England and Wales) Rules 2016

The following Restructuring & Insolvency guidance note Produced in partnership with William Willson of South Square provides comprehensive and up to date legal information covering:

  • Creditors’ consideration of CVA proposals—the position under the Insolvency (England and Wales) Rules 2016
  • STOP PRESS:
  • Coronavirus (COVID-19)
  • Brexit impact—cross-border insolvency (Insolvency (Amendment) (EU Exit) Regulations 2019, SI 2019/146)
  • General
  • Voting rights
  • Contingent creditors
  • Secured creditors
  • Majorities
  • Appeal

The Insolvency (England and Wales) Rules 2016 (IR 2016) provide a revised scheme for decision-making in all insolvency procedures. The detailed provisions for decision-making are set out in Part 15 of IR 2016, SI 2016/1024. For details of the changes brought about under this Part, please refer to Practice Note: The Insolvency (England and Wales) Rules 2016—Part 15 and 16: Creditors meetings and proxies [Archived] and Voting and creditors' decision procedures—the position under the Insolvency (England and Wales) Rules 2016.

For changes to CVAs generally, see Practice Note: The Insolvency (England and Wales) Rules 2016—Part 2: Changes to company voluntary arrangements (CVAs) [Archived] and The Insolvency (England and Wales) Rules 2016—CVL commencement [Archived].

STOP PRESS:

The Corporate Insolvency and Governance Act 2020 (CIGA 2020), in force from 26 June 2020, abolishes the moratorium procedure for small companies under IA 1986, Sch A1 to make way for the new standalone moratorium procedure. For further details, see Practice Notes: Corporate Insolvency and Governance Act 2020—impact on CVAs and Corporate Insolvency and Governance Act 2020—moratorium.

Coronavirus (COVID-19)

This content is affected by the coronavirus (COVID-19) pandemic. For further details, take a look at our Coronavirus (COVID-19) toolkit. For related news, guidance and other resources to assist practitioners working on restructuring and insolvency matters, see: Coronavirus (COVID-19)—Restructuring & Insolvency—overview.

Brexit impact—cross-border