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.
What is Administration? If your company is insolvent or close to insolvency, you have the choice of putting it into Administration. The process gives ... more
One of the major aspects of any insolvency is what will happen to the employees. Any news story in relation to an insolvency will focus on ‘how many ... more
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) or 01926 671891 (Warwick), or email us on email@example.com