Purnells

	Two types of CVA
	what are the two types? why two types? who can apply for a new type of CVA? are their different rules? when would an old type CVA be used? when would a new type of CVA be used?
	Old type CVA - No Moratorium the limbo period nominees duties disclosure issues directors duties the proposal impact of proposal on various parties
	New type CVA - With Moratorium enormous power enormous responsibility disclosure issues impact of proposal nominees duties creditors meeting voting rights supervisors duties a typical proposal costs concluding the CVA banks and debenture holders landlords petitioning creditors preferential creditors unsecured creditors
	Table of differences table to show the differences between the two types of CVA?
	Administration Order v CVA when would administration be sought rather than take up a new type CVA?
	Case Studies case study 1 case study 2 case study 3

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We noted earlier on this site that a CVA was a "contract" and that there were contract documents.

the first document is the proposal itself.
the second is the chairman's report of the creditors meeting. This second document is very important as it includes a list of all of the modifications to the proposal suggested by the creditors and which were agreed at the creditors meeting.

Before you can conclude how any type of CVA must be brought to an end you need to read the two documents referred to above to find out "the rules of the game".