Company Voluntary Arrangement (CVA)
If your company is struggling to pay its creditors but would like more time to do so, or is suffering from a lack of working capital, a CVA might be the right solution for you.
A CVA must be approved by a 75% majority of unsecured creditors and a simple majority of shareholders.
We will help you prepare the proposal to your creditors. It must be realistically achievable and offer a better return to creditors than liquidation.
A CVA can last up to five years. If HMRC are a preferential creditor they will expect to have their preferential debt paid in full .