Insolvency matters and environmental issues—company voluntary arrangements (CVA)
Insolvency matters and environmental issues—company voluntary arrangements (CVA)

The following Environment guidance note provides comprehensive and up to date legal information covering:

  • Insolvency matters and environmental issues—company voluntary arrangements (CVA)
  • General
  • The CVA proposal and procedure
  • Creditors’ decision procedures and Members’ meetings
  • Modifying and varying a CVA
  • Nominees and supervisors
  • Moratorium and effect on secured creditors
  • Challenging a CVA
  • Failure of a CVA
  • Insolvency issues for landlords
  • more

Note: Since 25 April 2017, it has been mandatory to use electronic filing (e-filing) in all jurisdictions of the Rolls Building, which includes the Insolvency and Companies List (formerly the Bankruptcy and Companies Courts of the Chancery Division). Since that date, it is no longer possible to issue claims or applications, or to file documents, on paper—instead all issuings and filings must be made online using the CE-File website. For further reading, see News Analysis: E-filing at the Rolls Building: some practical considerations for R&I lawyers. The extension of e-filing to the Business and Property Courts outside of London occurs from 25 February 2019, with the issue of all new proceedings becoming mandatory for professional users from 30 April 2019. For further reading, see News Analysis: CE-File extended to Business and Property Courts out of London (LNB News 13/02/2019 34).

General

The applicable legislation is the Insolvency Act 1986 (IA 1986) and the Insolvency (England and Wales) Rules 2016 (IR 2016), SI 2016/1024 (for further reading, see: The Insolvency (England and Wales) Rules 2016—overview. For further reading on any transitional provisions that may apply, see Practice Note: The Insolvency (England and Wales) Rules 2016—Schedule 2: Transitional provisions [Archived]. Destination table for forms under the Insolvency (England and Wales) Rules 2016 sets out equivalence between the forms previously prescribed under IR