allows a company in debt to continue trading.
It is a rescue package that enables insolvent
companies to avoid liquidation.
HM Revenue and Customs) agree to a phased
repayment of debts over a defined period, usually
5 years. These proposed repayments are to be
made from future trading profits. Normally only
an agreed fraction of debts will be repaid and
interest and other charges will be frozen during
the period of a CVA. Normally a CVA will be
accompanied by a restructure within the company
to improve the profitability of the company.
unsecured debts are written off and the company
continues to trade profitably without the worry of
outstanding debt. A CVA will enable you to:
to appoint an authorised/regulated advisor
to draw up the arrangement and oversee its
implementation. This is where one of Business
Rescue Centre's authorised advisors can help.
They have extensive experience of compiling and
administering company voluntary arrangements.