Draft nominee report to court
Draft nominee report to court

The following Restructuring & Insolvency guidance note provides comprehensive and up to date legal information covering:

  • Draft nominee report to court
  • Report of the Nominee
  • Summary of proposed Voluntary Arrangement
  • Nominee’s comments on the proposal
  • Meeting of creditors to be convened

Produced in partnership with Paul Allen of FRP Advisory LLP

In the matter of the insolvency act 1986

And in the matter of [Insert debtor's name]

[Insert name of county court hearing centre] county court hearing centre

NO. [INSERT COURT CASE REFERENCE]

Individual voluntary arrangement of [Insert debtor’s name]

('the debtor')

Report of the Nominee

I [insert nominee's name], an insolvency practitioner with [insert nominee’s firm name] of [insert address of nominee’s firm], and Nominee in relation to the proposed Individual Voluntary Arrangement (IVA) (Voluntary Arrangement) of the Debtor. I was first instructed by the Debtor in this matter on [insert date] who was referred to me by [insert referrer's name]. I confirm that I have read and considered the Debtor’s proposal to his creditors and I would comment as follows:

The Debtor’s proposal to his creditors is based upon [insert basis of proposal, eg contributions, third-party funds etc].

It appears to me that if this Voluntary Arrangement is not approved and a petition for bankruptcy instigated, unsecured creditors can anticipate receiving a much smaller return. This is expanded in greater detail below.

Summary of proposed Voluntary Arrangement

The Debtor's proposal to his creditors briefly comprises of the following:

  1. 1

    Preferential creditors

  2. Preferential creditors will be paid in full.

  3. 2

    Unsecured