Who is the nominee and what is their role in the CVA?

The nominee is a key individual in a company voluntary arrangement (CVA). For further information on CVAs generally, see: Company voluntary arrangements—overview.

The nominee has a role up to the time at which the proposal for the CVA is either approved or rejected.

The nominee must be a licensed insolvency practitioner (IP). This requirement ensures that a CVA will be subject to independent scrutiny. Previously, there was a provision under section 389A of the Insolvency Act 1986 (IA 1986) to allow other individuals to be authorised to act solely as nominees or supervisors in voluntary arrangements. However, these provisions were never used and IA 1986, s 389A was removed by the Deregulation Act 2015 and replaced by the introduction of a regime for the partial authorisation of insolvency practitioners.

The nominee and supervisor of a CVA occupy nearly identical roles to the nominee and supervisor of an individual voluntary arrangement (IVA). Therefore case law on IVAs in this