Company Voluntary Arrangement (CVA)
Clarke Bell are a firm of Licensed Insolvency Practitioners and established CVA specialists who have, for many years, provided businesses in Manchester and across the UK with practical solutions to business financial difficulty and debt. Our team of CVA specialists is always empathetic to your situation, dealing with your issue head on, even in the most demanding or complex cases.
You may feel like you could benefit from a CVA if you have mounting debts and wish to have help in delaying or reducing payments. Clarke Bell can help you with this and have a vast amount of experience helping similar companies achieve just the same. You may want to use this arrangement as a procedure in itself or as an exit route from an administration. If you are in the process of business liquidation, you may also need a CVA.
What is a Company Voluntary Arrangement?
A Company Voluntary Arrangement is essentially a procedure which enables the company to put a formal proposal to its creditors for a composition in satisfaction of its debts. This Company Voluntary Arrangement can last up to 5 years. The composition itself is an agreement where the creditors accept a sum of money as a way of settlement towards the debts which are owed to them.
When you come to Clarke Bell we can help you through the process of a CVA and ensure you understand the complexities of it. We communicate with you every step of the way to ensure you know what’s going on.
The CVA requires the approval of at least 75% in value of the creditors. A CVA can not go ahead without this. Clarke Bell can help you to establish this arrangement with your creditors. In fact, you have no need to worry as we can handle everything on your behalf. Once your creditors have approved the proposal to reduce or remove your debt, it is legally binding. This means that even if creditors have not voted in favour of it, it can still go ahead.
If you think you may need a CVA or Company Voluntary Arrangement (CVA) Advice, act quickly. We often find that by acting promptly we can get proceedings underway and act in the best way for your business. We keep your company’s best interests at heart, which is why we do everything we can to ensure your CVA proceeds as smoothly and efficiently as possible.
Contact our team of CVA specialists today, to receive professional CVA advice and practical solutions that will help your business and you.