Lexa Hilliard, KC

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, reflects the position maintained up to 25 June 2020 before the coming into force of the Corporate Insolvency and Governance Act 2020 (CIGA 2020), and is for historic purposes only. Its is produced in partnership with Lexa Hilliard QC of Wilberforce Chambers, looks at what effect a moratorium (or stay) on proceedings within a company voluntary arrangement (CVA) can have on the company, and on preventing creditors from taking action against the company, plus the effect of breaching the moratorium.

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.

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 reflects the position maintained up to 25 June 2020 before the coming into force of the Corporate Insolvency and Governance Act 2020 (CIGA 2020), and is for historic purposes only. Its is produced in partnership with Lexa Hilliard QC of Wilberforce Chambers, describes when a company subject to a company voluntary arrangement (CVA) can obtain a moratorium from proceedings (or stay of proceedings), including which companies are eligible for protection (ie small companies) and the procedure for obtaining the moratorium.

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 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 Practice Note, produced in partnership with Lexa Hilliard KC of Wilberforce Chambers sets out the limited options available to vary a company voluntary arrangement (CVA) after it has been approved by creditors, who can apply for variation of the CVA and how to vary or amend a CVA.

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).

This Checklist, produced in partnership with Lexa Hilliard QC of Wilberforce Chambers, sets out an indicative timetable for a company voluntary arrangement (CVA), listing the main steps which must be taken including: giving notice to the nominee, filing the nominee’s report to court, giving notice for members’ and creditors’ decisions, the chairman’s report, the deadline for challenging decisions and the CVA implementation date.