- Challenging the decision to reject proofs of debt in a CVA for dividend purposes (Re JPF Clarke (Construction) Limited)
- What are the practical implications of this case?
- What was the background?
- What did the court decide?
- Case details
Restructuring & Insolvency analysis: The court has given judgment in favour of four creditors who brought an application challenging the decision of the joint supervisors of a company voluntary arrangement (CVA) to reject their proofs of debt for the purpose of a dividend. Following oral evidence and a thorough examination of the documentary evidence, the court was satisfied that debts were owed to the creditors by an insolvent construction company, and therefore ordered the joint supervisors to admit the creditors’ proofs. Jessica Powers, barrister at New Square Chambers, provides comment and analysis.
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