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6 Jurisdiction, Effect of Approval, and Implementation
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This chapter looks into the jurisdiction, effect of approval and implementation of CVAs. Proposals made in respect of and for a company and its creditors, and composition in satisfaction of the company's debts are the core elements of jurisdiction. Thus, the company's financial position stays highly relevant with the CVA jurisdiction even if it does not depend on the company's insolvency. Moreover, the binding effect of a CVA depends on the statutory hypothesis and creditors will be treated like they have given consent to the arrangement. The chapter expounds on the definition of composition, scheme of the arrangement, creditors, ancillary rights, and necessary compromises in line with CVAs.
Title: 6 Jurisdiction, Effect of Approval, and Implementation
Description:
This chapter looks into the jurisdiction, effect of approval and implementation of CVAs.
Proposals made in respect of and for a company and its creditors, and composition in satisfaction of the company's debts are the core elements of jurisdiction.
Thus, the company's financial position stays highly relevant with the CVA jurisdiction even if it does not depend on the company's insolvency.
Moreover, the binding effect of a CVA depends on the statutory hypothesis and creditors will be treated like they have given consent to the arrangement.
The chapter expounds on the definition of composition, scheme of the arrangement, creditors, ancillary rights, and necessary compromises in line with CVAs.
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