Rule 1.51 of The Insolvency Rules 1986 - Company Voluntary Arrangements (CVAs) with a Moratorium

The Voting Rights of Members (otherwise known as shareholders) at a CVA Members meeting

 

Insolvency Rule 1.51 concerns the members (shareholders) meeting in respect of a Company Voluntary Arrangement proposal where a moratorium has previously been obtained. As Rule 1.51 in turn refers us to Rule 1.18 it is apparent that the law is exactly the same for members CVA meetings irrespective of whether or not a prior moratorium was obtained.

 

The actual wording of Insolvency Rule 1.51 is very short and is reproduced below in bold.

 

The Insolvency Rules 1986 - Rule 1.50 - Voting rights (members)

 

Rule 1.18 shall apply. 

 

In other words Insolvency Rule 1.50 is exactly the same as Insolvency Rule 1.18 when determining the rights of shareholders to vote at CVA members meetings - irrespective of whether or not a prior moratorium was obtained.