Information to the nominee of a company voluntary arrangement (CVA)
Produced in partnership with Lexa Hilliard QC of Wilberforce Chambers
Information to the nominee of a company voluntary arrangement (CVA)

The following Restructuring & Insolvency guidance note Produced in partnership with Lexa Hilliard QC of Wilberforce Chambers provides comprehensive and up to date legal information covering:

  • Information to the nominee of a company voluntary arrangement (CVA)
  • Brexit impact
  • Where Nominee is not the administrator or liquidator
  • Nominee who is the administrator or liquidator
  • The nominee’s obligations under GDPR

This Practice Note covers the information which should be provided to the nominee in order to allow them to consider the merits of the CVA proposal and to prepare their report to the court (see below: Information to the nominee of a company voluntary arrangement (CVA)—Nominee who is the administrator or liquidator). Statement of Insolvency Practice (SIP) 3.2 is relevant to the whole of this Practice Note.

Brexit impact

As of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has entered an implementation period, during which it continues to be subject to EU law. References to exit day in many Brexit SIs are to be read as reference to IP completion day (Implementation Period completion day, defined in clause 39 as 31 December 2020 at 11.00 pm) (unless that provision is expressly disapplied by the SI in question). For further details, see News Analysis: Brexit—impact of the Withdrawal Agreement and European Union (Withdrawal Agreement) Act 2020 for R&I lawyers and Brexit Bulletin—key updates, research tips and resources. For further details, see Practice Note: Brexit—impact on company voluntary arrangements.

We will continue to monitor developments in this respect and throughout the negotiation period and beyond. In the meantime, for further reading on the impact of Brexit and