SIP 3.2 - company voluntary arrangements
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A Company Voluntary Arrangement (CVA) is a statutory contract between acompany and its creditors under which an insolvency practitioner will havepowers and duties. An insolvency practitioner will be central to the preparation and agreement of the proposal, and the implementation of the arrangement, whether acting as adviser, nominee or supervisor.
Effective date: This SIP applies to all cases where the nominee is appointed on or after 1 April 2021.