As noted previously on this blog the Insolvency Service (IS) have mooted the idea of extending the CVA provisions to larger companies. This was announced in Mr Darling's recent budget statement. The IS is not alone! This is a very sensible idea. See here for a long essay along the same lines entitled: "The Extension of Small Company Voluntary Arrangements: A Response to the Conservative Party's Corporate Restructuring Proposals"
As promised the IS have now launched a consultation to test the waters on this proposal. The deadline for responses is the 7th September 2009. The consultation documents can be viewed here.
Picture Credit: http://www.insolvency.gov.uk/