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...

IVAs in England and Wales: Nominee and Supervisor Roles, Powers, Decision Procedures (IR 2016), Statutory Duties and Enforcement

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Practice notes

Who is the nominee/supervisor and what is their role in the individual voluntary arrangement?

The nominee and the supervisor play central roles in an IVA. Often, one professional fills both positions, although this is not a necessity. The nominee’s duties extend only up to the point when the IVA proposal is accepted or declined. If creditors approve the proposal, the supervisor then assumes responsibility for ensuring the arrangement is delivered exactly in line with its terms. No person may act as nominee or supervisor in an IVA unless they are a licensed insolvency practitioner (IP), a safeguard that provides independent scrutiny and professional supervision.

Under section 253(2) of the Insolvency Act 1986 and rule 8.3 of the Insolvency (England and Wales) Rules 2016 (SI 2016/1024), the IVA proposal must include:

the proposed supervisor’s name, address, qualification, and regulated professional body; and
the debtor’s confirmation that, so far as they are aware, the proposed supervisor is qualified to act as an IP or is an authorised person

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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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