CVA

A Company Voluntary Arrangement (CVA) allows an insolvent company to come to an agreement with creditors to repay its debts over a fixed period of time. Whilst a company is under a Company Voluntary Arrangement, the director remains in control and it will continue to operate and trade. This is an option taken by those…

When a creditor is owed money by a company and their payment demands have gone unfulfilled for more than 21 days, they are entitled to issue a winding-up petition to the court. The winding-up notice asks the court to liquidate the company as it is believed that it is insolvent. Once liquidated, the proceeds and…

Any business that is insolvent or struggling financially will want to know exactly what options are open to them. There are several routes a struggling business can take from liquidation, or administration, to a Company Voluntary Arrangement (CVA).  Which route is best for you depends on the circumstances and intentions of the business. For example,…