This happens if your company becomes insolvent and you come to an arrangement with your creditors to delay or negotiate a payment arrangement of your debts. You can adapt a CVA to meet the needs of your business, enabling it to keep trading whilst paying off the debts in a way that’s affordable.
A CVA can provide the perfect solution if your company is fundamentally sound but is undergoing short-term cash flow problems. It gives a buffer to your company, giving it time and legal protection from your creditors to organise its finances. Creditors are inclined to support a CVA where it’s clear that this will achieve a better outcome than liquidation.
Once we’ve helped you and your fellow directors to compile a proposal, you would invite us to act as your ‘nominee’. We’d then take the following steps -
Throughout the process, you and your fellow directors would be in charge of the day-to-day running of the company.
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Find out more about how we can guide you through a CVA. We’re here to help with clear, straightforward support.
Call us on 0116 2325117 (Leicester), 01926 671891 (Warwick), 02476017639 (Coventry), 01604263179 (Northampton) or email us on firstname.lastname@example.org