Company Voluntary Arrangements (CVAs) - Law - CVA with a moratorium
Schedule A1 - Insolvency Act 1986 - Paragraph 30 - Conduct of CVA members and creditors meetings
When a CVA moratorium is in existence the Nominee must call meetings of the creditors and of the members (shareholders) of the company concerned. Paragraph 30 of Schedule A1 to The Insolvency Act 1986 prescribes that those meetings must be conducted in accord with The Insolvency Rules 1986.
The actual wording of Paragraph 30 of Schedule A1 to The Insolvency Act 1986 is reproduced below in bold.
(2) A meeting so summoned may resolve that it be adjourned (or further adjourned).
(3) After the conclusion of either meeting in accordance with the rules, the chairman of the meeting shall report the result of the meeting to the court, and, immediately after reporting to the court, shall give notice of the result of the meeting to such persons as may be prescribed.