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<p>Company Voluntary Arrangements (CVAs) are a valuable part of the restructuring
framework and there are no plans to review their use at this time. The Government
consulted on a wide-ranging package of reforms to corporate insolvency in 2018, to
enhance rescue prospects and also to address poor corporate behaviour. Following this
consultation, Government announced it will strengthen the powers available to insolvency
practitioners to take recovery action where value has been extracted from a company
prior to its insolvency, thereby increasing the protections already available to creditors.
These proposals will be introduced when parliamentary time permits.</p>
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