Taking a DIP into the pool: should the Pre-Pack Pool be extended to CVAs?

Company Voluntary Arrangements (CVA) have been a dominant theme in the restructuring community in 2018, with a number of high profile cases drawing significant media scrutiny. In light of perceived misuse of the process, the British Property Federation has called for Government review and interim reforms. These reforms include subjecting CVA proposals to independent scrutiny, with the suggestion that the Pre-Pack Pool’s remit be extended. This article considers whether subjecting CVA proposals to scrutiny by the Pre-Pack Pool would be beneficial, in light of issues identified by the recently published R3 Report Company Voluntary Arrangements: Evaluating Success and Failure.