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<p>The Government consulted on a wide-ranging package of reforms to corporate insolvency
generally in 2018 and there are no plans to review the use of Company Voluntary Arrangements
(CVA’s) at this time. CVA’s are a valuable part of the restructuring framework. 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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