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Company Voluntary Arrangements and Administrations

BOOK REVIEW COMPANY VOLUNTARY ARRANGEMENTS AND ADMINISTRATIONS Second Edition By Geoffrey M. Weisgard, Michael Griffiths and Louis Doyle ISBN: 978-1-84661-193-3 INSOLVENCY PRACTITIONER? HERE’S EVERYTHING YOU NEED TO KNOW ABOUT CVAs. An appreciation by Phillip Taylor MBE and Elizabeth Taylor of Richmond Green Chambers Be you a barrister, or solicitor, or for that matter, accountant or academic –you’ll need this book if you practice or advise in the area of company voluntary arrangements. The necessity of producing a second edition reflects the seven years that have elapsed since the publication of the 1st edition, during which time, much has changed in this area of insolvency. As the authors point out, the scope of the new edition has been extended to include the related area of administration. In their considered and expert opinion, ‘the CVA procedure should be an important part of the toolkit of each insolvency practitioner (IP) seeking to provide solutions to companies and their directors and shareholders.’ In similar vein, Richard Fleming, KPMG’s UK Head of Restructuring, is referred to as being of the opinion that ‘consensual CVAs, without moratoriums, and used outside administration, could provide a low-cost, effective restructuring tool.’ Administration, he says, is a process which, ‘should be viewed as the option of last resort due to the damaging effect it can have on a company’s value.’ Offering a practical alternative in many cases to


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