Wilberforce Chambers

This Practice Note, produced in partnership with Lexa Hilliard KC of Wilberforce Chambers, discusses the remedies for creditors if they wish to challenge a company voluntary arrangement (CVA). We discuss the potential grounds for doing so including unfair prejudice or material irregularity, the process to file a challenge and the costs of doing so. It also consider’s the FCA’s right to challenge CVAs of FCA regulated companies.

This Practice Note, produced in partnership with Lexa Hilliard KC of Wilberforce Chambers, looks at what constitutes a failed company voluntary arrangement (CVA) and what happens when a CVA comes to an end prematurely (ie terminates or is terminated or fails) and has not been implemented fully. It considers what happens to the CVA’s assets and whether they are held on trust. It also considers the effect of a subsequent liquidation/winding-up and how the CVA’s supervisor can petition for winding-up.

In this Practice Note, Thomas Robinson of Wilberforce Chambers and Raquel Agnello QC of Erskine Chambers discuss the Lehmans/Nortel cases, more particularly the Supreme Court decision which clarified the status of Financial Support Directions (FSDs) issued under the Pensions Act 2004 (PA 2004) to companies in UK administration, provided important guidance on, among other things, the ranking of FSD liabilities in insolvency and dealt with the status of Contributions Notices issued under PA 2004, s 47.

This Practice Note, produced in partnership with Lexa Hilliard KC of Wilberforce Chambers, looks at when a company voluntary arrangement (CVA) can be proposed, by whom, the proposal and nominee, the legal nature of a CVA, why CVAs were introduced, its stand-alone procedure, who can use them, and what they can be used for.

This Practice Note, produced in partnership with Lexa Hilliard KC of Wilberforce Chambers, looks at the information which must be given to the nominee of a company voluntary arrangement (CVA) in order to consider the CVA proposal and produce their report. It covers cases where the nominee is the current administrator/liquidator and where there is no liquidator/administrator in place.

This Practice Note, produced in partnership with Lexa Hilliard KC of Wilberforce Chambers looks at what powers there are to modify the company voluntary arrangement (CVA) proposal, and considers the relevant SIP guidelines.

This Practice Note, produced in partnership with Lexa Hilliard KC of Wilberforce Chambers, discusses how a nominee or supervisor of a company voluntary arrangement (CVA) is remunerated, including the basis (eg time based or fixed fee) and the process for obtaining remuneration.

This Practice Note, produced in partnership with Lexa Hilliard KC of Wilberforce Chambers, details the role of the nominee of a company voluntary arrangement (CVA), what powers they have in carrying out their role, and what they must do in execution of their role.

This Practice Note, produced in partnership with Lexa Hilliard KC of Wilberforce Chambers, looks at the roles, powers, functions and duties of a nominee and supervisor in relation to a debtor’s individual voluntary arrangement (IVA) and the implementation of it.

This Practice Note, produced in partnership with Lexa Hilliard KC of Wilberforce Chambers, looks at the role of the supervisor in a company voluntary arrangement (CVA), their statutory duties and those arising under the CVA itself, how the duties can be enforced and the vacation of their office.

This Practice Note, produced in partnership with Lexa Hilliard KC of Wilberforce Chambers, discusses the position of secured creditors under a company voluntary arrangement (CVA) and whether they can enforce their security while the CVA is in force.

This Practice Note, produced in association with Lexa Hilliard KC of Wilberforce Chambers, looks at the company voluntary arrangement (CVA) proposal and procedure, including the process where a CVA proposal is made by directors, administrators or liquidators (as nominees and otherwise), the content of the proposal, consideration of the proposal by members and creditors and requisite majorities to approve the CVA.

This Practice Note, produced in partnership with Iain Pester of Wilberforce Chambers, looks what effect a bankruptcy order has on any pre-existing individual voluntary arrangement (IVA) that the bankrupt has entered into with their creditors, including what happens to the assets comprised in the IVA, and the rights of the IVA creditors.

This Practice Note, produced in partnership with Raquel Agnello KC of Erskine Chambers and Thomas Robinson of Wilberforce Chambers, discusses the Pension Protection Fund and provides detail on the circumstances where the Pensions Regulator may issue a contribution notice (CN) or a financial support direction (FSD). These are often called the ‘moral hazard provisions’ of the Pensions Act 2004. This Practice Note considers the power of the Pensions Regulator to issue either a CN or an FSD, what is the ‘material detriment’ test, and what effect a CN or an FSD may have on a company, and its creditors.

This Practice Note focuses on the role of the Determinations Panel of the Pensions Regulator, circumstances in which the Panel will exercise special functions of the Pensions Regulator and relevant procedures and practices. It also looks at the role of the Upper Tribunal, to whom determinations of the Panel may be referred.

This Practice Note, produced in partnership with Lexa Hilliard KC of Wilberforce Chambers, looks at the process to put in place a company voluntary arrangement (CVA), including the process for approval by creditors, whether the CVA can be modified and to what extent if so, creditors’ voting rights and what happens after the CVA is approved.

This Precedent, produced in partnership with Lexa Hilliard KC of Wilberforce Chambers, is the chair's report on the company meeting and decision procedure to approve a company voluntary arrangement (CVA).

This Precedent, produced in partnership with Lexa Hilliard KC of Wilberforce Chambers, is a director's proposal for a company voluntary arrangement (CVA).