Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Company voluntary arrangement definition

What does Company voluntary arrangement mean? A company voluntary arrangement (CVA) is a statutory restructuring that lets a company keep trading while compromising unsecured debts under a binding plan supervised by a licensed insolvency practitioner. It is used to avoid creditors’ voluntary liquidation, compulsory winding up or to exit administration, often to compromise landlord and trade liabilities. The regime is in Part I of the Insolvency Act 1986 and the Insolvency Rules 2016 (with parallels in the Insolvency (Northern Ireland) Order 1989), and operates similarly in England & Wales, Scotland and Northern Ireland. Directors, or an administrator/liquidator, propose the CVA through a nominee (who becomes...

CVA supervisors in England and Wales: roles, statutory duties, powers, VAT treatment, reporting, implementation, enforcement and vacation of office

Published by a LexisNexis Restructuring & Insolvency expert

Practice notes

Who is the supervisor and what is the supervisor’s role in a company voluntary arrangement (CVA)?

The supervisor is a pivotal figure within a CVA. For broader guidance on CVAs, see Practice Note: Company voluntary arrangements. Once creditors approve a CVA proposal, the supervisor’s duty is to ensure the arrangement is carried out in strict accordance with its terms.

The role must be performed by a licensed insolvency practitioner (Insolvency Act 1986, s 1(2); Insolvency (England and Wales) Rules 2016, SI 2016/1024, r 2.3(1)(i)). An earlier provision (ia 1986, s 389A) would have allowed other individuals to be authorised solely to act as nominees or supervisors in voluntary arrangements, but it was never utilised. Section 389A was repealed by the Deregulation Act 2015 and replaced by a regime permitting the partial authorisation of insolvency practitioners. The IR 2016, SI 2016/1024 apply to CVAs.

A CVA supervisor fulfils the same function as a 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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