CVA’s
Company Voluntary Arrangement
Company Voluntary Arrangements (CVA’s) now offer a viable alternative to liquidation.
In a similar way that IVA’s enable individuals to avoid bankruptcy, CVA’s help struggling Companies to continue to trade and even prosper by ‘boxing off’ all their debts and enabling the Directors to focus on developing the business again rather than worrying about the stress & pressure that serious debt brings…
A Company Voluntary Arrangement enables a company to make a private arrangement with all its unsecured creditors. The CVA (Company Voluntary Arrangement) procedure was introduced by the Insolvency Act 1986 IA86 and is simply a formal mechanism which permits a company, which has debt problems, to reach a compromise with its creditors on the repayment of its debt.
Imagine if your company could;
Freeze any interest charges
Repay the debt in affordable monthly installments
Stop creditors from taking further action against your company
Write off a proportion of the companys debts with creditors consent
The CVA can be tailored to suit the companys and creditors needs. It could involve a five year payment plan or a full and final settlement in the form of a lump sum to creditors or a combination of the two.
If you think that a CVA may suit your situation, give us a call on 08000 842 844
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