Jurisdiction(s):
United Kingdom

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Key definition

Voluntary arrangement definition

What does Voluntary arrangement mean? In practice, a voluntary arrangement is a negotiated, legally binding compromise of debts that lets a debtor pay in full or in part over time while avoiding bankruptcy or liquidation. The term is descriptive: in England & Wales and Northern Ireland it most commonly refers to a company Voluntary Arrangement (CVA) for companies and an Individual Voluntary Arrangement (IVA) for individuals, both statutory procedures under the Insolvency Act 1986 (and the Insolvency (Northern Ireland) Order 1989). In Scotland, CVAs are available, but individuals use protected trust deeds or the Debt Arrangement Scheme rather than IVAs. In Ireland, “voluntary arrangement”...

Partnership Voluntary Arrangement (PVA) Proposal Precedent under Insolvency Act 1986 and Insolvent Partnerships Order 1994 (England and Wales)

Published by a LexisNexis Restructuring & Insolvency expert

Precedents

Court Reference Number. [ number ].

[ IN THE HIGH COURT OF JUSTICE BUSINESS AND PROPERTY COURTS [ OF ENGLAND AND WALES OR IN [ location ] ] Insolvency AND COMPANIES LIST (ChD), OR IN THE HIGH COURT OF JUSTICE CHANCERY DIVISION [ location ] DISTRICT REGISTRY, OR IN THE COUNTY COURT AT [ location ] [ BUSINESS AND PROPERTY WORK ] ]

In the matter of [ name of partnership/partnership members ] trading as [ name of partnership ] and in the matter of the Insolvency Act 1986 and in the matter of the Insolvent Partnerships Order 1994

PROPOSAL FOR A PARTNERSHIP Voluntary arrangement

1 Introduction

A Partnership Voluntary Arrangement (PVA) is a mechanism created by Part I of the Insolvency Act 1986, as applied and modified by the Insolvent Partnerships Order 1994, which permits a partnership to put forward to its creditors a proposal for a composition or a scheme to arrange its affairs, through which agreement is reached with creditors as to how its debts will be settled in full or in part...

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Web page updated on 22/05/2026

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