schemes of arrangement. It is also possible for receivers to be appointed over BVI companies (either by the BVI court or by a creditor of the company with suitable security). Plan of Arrangement A Plan of Arrangement is initiated by the director(s) of a company or, if the company is in voluntary liquidation, by the voluntary liquidator. There is no requirement for a company to be insolvent before a Plan of Arrangement can be considered The Plan of Arrangement may permit a company to: amend its memorandum and articles of association; reorganise, merge or consolidate, or separate its businesses;