A compromise or other arrangement with creditors under Part I of the Insolvency Act 1986 (IA 1986) which is implemented under the supervision of an insolvency practitioner (known as the nominee before the proposals are implemented, who then becomes known as the supervisor). The arrangement will be binding on creditors if the relevant majorities vote in favour of the proposals at properly convened meetings of creditors and shareholders of the company. The arrangement does not affect the rights of secured or preferential creditors, unless they agree to the proposals.

The small companies optional CVA moratorium in Schedule A1 to the IA 1986 was abolished with immediate effect by the Corporate Insolvency and Governance Act 2020 (CIGA 2020) on 26 June 2020. In its place, CIGA 2020 introduced a new Part A1 moratorium, which can be used in conjunction with a CVA by a wider range of companies and for a longer period than the former Schedule A1 moratorium.