CVAs and guarantee stripping "Son of Powerhouse" defeated
Norris, Daniel
CVAs and guarantee stripping "Son of Powerhouse" defeated - 2010 - Hogan Lovells Real Estate Quarterly Autumn 2010, 2-3(2) .
Mourant & Co Trustees Limited v Sixty UK Limited (see L151150) saw the revocation of the defendant's company voluntary arrangement (CVA) and pointed to the end of so-called guarantee stripping. Considers the nature of CVAs, their popularity and recent use and their relationship to guarantee stripping. Examines the Mourant decision which has been nicknamed "Son of Powerhous" in detail. Considers in the light of Mourant the government's consultation on a proposed business restructuring moratorium and concludes that it is unlikely to get on to the statute books, leaving CVAs more popular than other insolvency processes.
MOURANT & CO LTD V SIXTY UK LTD (IN ADMINISTRATION)
PRUDENTIAL ASSURANCE CO LTD AND OTHERS V PRG POWERHOUSE LTD AND OTHERS
England and Wales--1543-
CVAs and guarantee stripping "Son of Powerhouse" defeated - 2010 - Hogan Lovells Real Estate Quarterly Autumn 2010, 2-3(2) .
Mourant & Co Trustees Limited v Sixty UK Limited (see L151150) saw the revocation of the defendant's company voluntary arrangement (CVA) and pointed to the end of so-called guarantee stripping. Considers the nature of CVAs, their popularity and recent use and their relationship to guarantee stripping. Examines the Mourant decision which has been nicknamed "Son of Powerhous" in detail. Considers in the light of Mourant the government's consultation on a proposed business restructuring moratorium and concludes that it is unlikely to get on to the statute books, leaving CVAs more popular than other insolvency processes.
MOURANT & CO LTD V SIXTY UK LTD (IN ADMINISTRATION)
PRUDENTIAL ASSURANCE CO LTD AND OTHERS V PRG POWERHOUSE LTD AND OTHERS
England and Wales--1543-