A snapshot of company voluntary arrangements: Success, failure and proposals for reform

Walton, P; Umfreville, C

A snapshot of company voluntary arrangements: Success, failure and proposals for reform

Walton, P Umfreville, C

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Publisher:: John Wiley &Sons, Ltd
Publication Type:: Journal Article
Citation:: International Insolvency Review, 2020, 29, (2), pp. 267-284
Issue Date:: 2020-05-20

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Field	Value	Language
dc.contributor.author	Walton, P
dc.contributor.author	Umfreville, C
dc.date.accessioned	2023-01-27T02:40:38Z
dc.date.available	2023-01-27T02:40:38Z
dc.date.issued	2020-05-20
dc.identifier.citation	International Insolvency Review, 2020, 29, (2), pp. 267-284
dc.identifier.issn	1180-0518
dc.identifier.issn	1099-1107
dc.identifier.uri	http://hdl.handle.net/10453/165519
dc.description.abstract	Company Voluntary Arrangements (CVAs) are designed to be used in the UK to rescue a company as a going concern. They are under used in practice and have a reputation for high failure rates. This article, based upon a longer report funded by the UK insolvency profession, considers the nature of success or failure of CVAs. It considers empirical evidence to identify the weak points of CVAs in practice. It looks at quantitative data as well as taking into account views of practitioners and other stakeholders. Key elements of the CVA procedure are considered in light of recent national reform proposals and approaches and reforms internationally. Domestic reforms in the Netherlands and South Africa are considered to determine whether any lessons might be learnt from other jurisdictions. Recommendations are made including changes to the suggested amendments to the legal framework and to professional practice guidance.
dc.language	en
dc.publisher	John Wiley &Sons, Ltd
dc.relation.ispartof	International Insolvency Review
dc.relation.isbasedon	10.1002/iir.1381
dc.rights	info:eu-repo/semantics/openAccess
dc.subject	1801 Law
dc.title	A snapshot of company voluntary arrangements: Success, failure and proposals for reform
dc.type	Journal Article
utslib.citation.volume	29
utslib.location.activity	United Kingdom
utslib.for	1801 Law
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Law
utslib.copyright.status	open_access	*
pubs.consider-herdc	false
dc.date.updated	2023-01-27T02:40:37Z
pubs.issue	2
pubs.publication-status	Published
pubs.volume	29
utslib.citation.issue	2

Abstract:

Company Voluntary Arrangements (CVAs) are designed to be used in the UK to rescue a company as a going concern. They are under used in practice and have a reputation for high failure rates. This article, based upon a longer report funded by the UK insolvency profession, considers the nature of success or failure of CVAs. It considers empirical evidence to identify the weak points of CVAs in practice. It looks at quantitative data as well as taking into account views of practitioners and other stakeholders. Key elements of the CVA procedure are considered in light of recent national reform proposals and approaches and reforms internationally. Domestic reforms in the Netherlands and South Africa are considered to determine whether any lessons might be learnt from other jurisdictions. Recommendations are made including changes to the suggested amendments to the legal framework and to professional practice guidance.

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http://hdl.handle.net/10453/165519