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Company Voluntary Arrangement
A Company Voluntary Arrangement (CVA) enables your company to deal with its debts and improve its cash flow by coming to an arrangement with its creditors.
Under the terms of a CVA, your creditors agree to accept a certain sum of money in settlement of their debts. The CVA provides a structure for a proportion, or all of the debt, to be repaid over a fixed period of time up to five years. This can be achieved through the realisation of assets, monthly contributions, a third party lump sum, or a combination of these.
A CVA could be a route back to normal trading for your business if it has previously been placed into administration.
Right for your business?
During the period of a CVA your business will continue to trade. Therefore, for a CVA to be successful you will need the co-operation and support of your creditors, your suppliers and your customers. Communications, negotiations and transparency are key.
To find out how we can help you implement a successful CVA call us today on 0114 285 9500.