What is a Company Voluntary Arrangement [“CVA”]?
A CVA is a formal corporate turnaround procedure that allows a company to ring-fence historic debt and reach agreement with its creditors as to how that debt is to be repaid in full or in part. It provides legal protection to the company and leaves the directors in charge of all company operations and decision making.
In addition to providing directors with a free confidential consultation with one of our licensed insolvency practitioners at a convenient time and location, we will assist in the preparation of the CVA Proposals [i.e. the Business Plan] that has to be put to the creditors in order to get their agreement to the proposed turnaround strategy. We will help prepare the required financial forecasts to be included in the Proposals and where necessary speak and sometimes meet with the company’s bankers and key creditors.
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