CVA Proposal Contents Checklist under Insolvency Rules 2016 rr 2.2–2.3 and SIP 3.2, including PPF/BPF considerations (England and Wales)

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Checklists

This Checklist

This Checklist considers the details a company voluntary arrangement (CVA) proposal must include under the Insolvency (England and Wales) Rules 2016 (IR 2016), SI 2016/1024 and Statement of Insolvency Practice (SIP) 3.2, together with expectations from other stakeholders likely to be impacted by the CVA, notably the Pension Protection Fund (PPF) and the British Property Federation (BPF):

the IR 2016, SI 2016/1024, rr 2.2, 2.3
Statement of Insolvency Practice (SIP) 3.2
PPF requirements, see: Checklist for approval of CVAs involving the Pension Protection Fund
BPF requirement, see: Checklist: British Property Federation engagement and red flags for company voluntary arrangements

A CVA proposal sets out the detailed terms of a compromise between the company and its creditors, so it must be thorough and correct in every respect.

If the proposal or surrounding circumstances are intricate, a solicitor should review or draft it to make sure it faithfully embodies the arrangement’s intentions.

The proposal should be clear and easy to understand and free from ambiguity.

For an example CVA proposal, see Precedent: Director’s proposal for a CVA precedent document...

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Web page updated on 20/05/2026

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