A CVA supervisor anticipated a significant delay in realising one of the principal assets of the arrangement, due to factors outside of the control of the debtor company. The company had in all other respect fully complied and the arrangement was nearing its conclusion. The company was continuing to trade and reported some difficulties in doing so as a result of being in a CVA. Mechanisms for concluding the arrangement, including hive-down or assignment of the debt, both in conjunction with a variation of the arrangement terms were being considered, with the benefit of legal advice. Could the IPA offer any pointers as to how best to proceed?
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