PHOENIX
A Company Voluntary Arrangement ('CVA') allows a financially troubled company to reach a legally binding agreement with its creditors enabling it to make payment of all, or (as is normal) a percentage of, its debts over an agreed period of time.
A CVA enables a company which is viable and profitable, but which has experienced bad debts or a one-off problem that has seriously affected its financial position, to continue to trade, without the burden of pressure from its creditors, and under the sole control of its directors. A major advantage of a CVA is that up to 75% of debts can be written-off, with the balance to be paid being deferred over a number of years.
A CVA enables a company which is viable and profitable, but which has experienced bad debts or a one-off problem that has seriously affected its financial position, to continue to trade, without the burden of pressure from its creditors, and under the sole control of its directors. A major advantage of a CVA is that up to 75% of debts can be written-off, with the balance to be paid being deferred over a number of years.
BUSINESS SERVICES
Advantages of a Company Voluntary Arrangement ('CVA')
CVA is a legally binding agreement, allowing up to 80% of debts to be written off
Business continues to trade under the control of its directors
Minimum disruption occurs (it is probable that customers will be unaware of the CVA)
CVA enables onerous contracts, leases, obligations etc. to be terminated
No investigation into directors conduct, and no prospect of disqualification
CVA is a legally binding agreement, allowing up to 80% of debts to be written off
Business continues to trade under the control of its directors
Minimum disruption occurs (it is probable that customers will be unaware of the CVA)
CVA enables onerous contracts, leases, obligations etc. to be terminated
No investigation into directors conduct, and no prospect of disqualification
To protect & save your business, call
0871 245 8800
0871 245 8800