Company Voluntary Arrangement (CVA)
A business with debts doesn’t necessarily need to wind up or cease trading. A Company Voluntary Arrangement allows you to remain in control and provides a flexible solution for you and your business.
We can help you to reach an agreement with your creditors to pay back some or all of your debts over a set period of time, allowing you the breathing space to concentrate on restructuring or refinancing the business, in order to get things back on track.
What can we do for you?
- Draft proposal – we will work with you to put together a complete proposal to present to your creditors
- Gain support – we will negotiate with your creditors to obtain their support in order for the proposal to be accepted
- Supervise – we will act as Supervisors of the arrangement for the full duration of the agreement
- Ongoing support – we will provide ongoing support to you and your business whilst the arrangement is in place to ensure it runs smoothly and allows your business to return back to profitability
Advantages of entering into a CVA
You stay in control of your company, even while it’s in a CVA
Pressure from creditors and HMRC ends while you prepare a CVA
Entering into a CVA can improve your company’s cash flow
While in a CVA, your company is protected from creditor legal action
In many cases, a CVA is the best option for avoiding liquidation
Entering into a CVA is far less public than other options
In a CVA, your company can make important restructuring changes
Both your company and its creditors benefit from a CVA
Disadvantages of entering into a CVA
Entering into a CVA can affect your company’s access to credit
If you break the terms of a CVA, your company could be liquidated
At least 75% of creditors need to approve your CVA proposal
A CVA is not a short-term solution and can take several years to complete
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