Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Nominee definition

What does Nominee mean? In insolvency practice, a nominee is the licensed insolvency practitioner appointed at the proposal stage of a company voluntary arrangement (CVA) or an individual voluntary arrangement (IVA) to assess the plan’s viability and guide it to a creditors’ decision. The term is used in legislation: Insolvency Act 1986 (for CVAs in England & Wales and Scotland, and IVAs in England & Wales) and the Insolvency (Northern Ireland) Order 1989. Key functions include: reviewing the debtor’s/company’s proposal; opining on whether it has a reasonable prospect of approval and implementation; reporting to the court; and stating whether meetings of creditors...

Company Voluntary Arrangements: the Nominee’s Duties, Powers, Reporting and Enforcement (England and Wales)

Published by a LexisNexis Restructuring & Insolvency expert

Practice notes

Who is the nominee and what is their role in the CVA?

The nominee is a central figure within a company voluntary arrangement (CVA). For general background on CVAs as a whole, see Company voluntary arrangements—overview. Their involvement continues only up to the point at which the CVA proposal is either sanctioned or declined, and no further. A nominee must be a licensed insolvency practitioner (IP). This stipulation ensures that any CVA will be subject to independent scrutiny throughout that phase.

Historically, section 389A of the Insolvency Act 1986 (IA 1986) permitted other persons to be authorised solely to act as nominees or supervisors in voluntary arrangements. In practice this route was never taken, and IA 1986, s 389A was repealed by the Deregulation Act 2015, being replaced by the introduction of a regime for the partial authorisation of insolvency practitioners.

The positions of nominee and supervisor in a CVA are almost the same as those in an individual voluntary arrangement (IVA). Consequently, IVA case law in this area is relevant and can be applied to CVAs (see Practice Note: Role, powers, functions and duties of the nominee and supervisor of an individual voluntary arrangement (IVA))...

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Lexa Hilliard , KC

Wilberforce Chambers

Lexa Hilliard KC is a popular and well-respected silk who is recommended by the legal directories for commercial dispute resolution, commercial chancery, company, insolvency and professional negligence. Her expertise also covers arbitration, banking and finance as well as fraud. She is particularly known for her cross-border litigation experience, often involving an insolvency or civil fraud angle. Clients note that she is: 'keenly commercial, incredibly passionate and works seamlessly with the team' and that she has: 'hugely impressive advocacy skills and strategic input'. She regularly handles high value, legally complex cases in both the domestic and international market, acting both as advocate and expert. Her ability to be 'highly inventive and always think of new ways to approach a case" allied to her: "no-nonsense approach" ensure her success with judges and tribunals as well as clients....

Web page updated on 21/05/2026

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