Company Voluntary Arrangements (CVAs) - Law - CVA with a moratorium

Sch A1 - Insol Act 1986 - Para 29 - Summoning of CVA meetings to consider the proposal - All creditors must be invited

 

 

It should go without saying that all creditors of a company must be invited to the creditors meeting at which a Company Voluntary Arrangement proposal is to be considered - that is exactly what Paragraph 29 of Schedule A1 to The Insolvency Act 1986 requires.

 

 

The actual wording of Paragraph 29 of Schedule A1 to The Insolvency Act 1986 is reproduced below in bold.

 

29. (1) Where a moratorium is in force, the nominee shall summon meetings of the company and its creditors for such a time, date (within the period for the time being specified in paragraph 8(3)) and place as he thinks fit.

(2) The persons to be summoned to a creditors’ meeting under this paragraph are every creditor of the company of whose claim the nominee is aware.