Q&As

Where a creditor wishes to challenge a company voluntary arrangement, is it the case that they must issue and serve proceedings within 28 days in order to bring a challenge?

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Published on LexisPSL on 06/04/2018

The following Restructuring & Insolvency Q&A provides comprehensive and up to date legal information covering:

  • Where a creditor wishes to challenge a company voluntary arrangement, is it the case that they must issue and serve proceedings within 28 days in order to bring a challenge?

Where a creditor wishes to challenge a company voluntary arrangement, is it the case that they must issue and serve proceedings within 28 days in order to bring a challenge?

A challenge must be made (ie issued) within 28 days. An application to challenge a company voluntary arrangements may not be made:

  1. after the end of the period of 28 days beginning with the first day on which each of the reports of the company meeting and the creditors’ decision was made to the court, or (section 6(3)(a) of the Insolvency Act 1986 (IA 1986))

  2. in the case of a creditor who was not given notice of the relevant qualifying decision procedure,

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