Company Voluntary Arrangements

COMPANY VOLUNTARY ARRANGEMENTS

A flexible approach to business problems, helping you to rebuild your business

Company Insolvency Advice is well versed with assisting company directors across all industry sectors.

If your company is struggling to pay debts to its creditors but you believe that it has the potential to be a viable and profitable business again in the future, a Company Voluntary Arrangement (CVA) could provide an achievable company rescue solution.

A Company Voluntary Arrangement is a legal agreement between an insolvent company and its creditors, set up by a qualified insolvency practitioner. The CVA process allows an insolvent company to negotiate payment terms with its creditors for all or part of the debt over a period of time.

CVAs work both for the insolvent company and its creditors. They give the company and its directors space to breathe and the opportunity to work their way through their financial troubles; and they allow creditors to claim back money that they are owed.

As experienced experts, we can assess your company’s financial situation and determine whether a Company Voluntary Arrangement could be an effective solution to your company debt problems. We then act on your behalf and negotiate with your creditors to come to an agreement on payment terms and establish a Company Voluntary Arrangement.

OUR EXPERT COMPANY RESCUE ADVICE IS 100% FREE & CONFIDENTIAL. GET HELP TODAY CALL 0800 999 0666

  • WHAT MAKES A COMPANY ELIGIBLE FOR A COMPANY VOLUNTARY ARRANGEMENT?

Whilst Company Voluntary Arrangements may sound like the perfect solution to company debt problems, it is important to understand that they are not a viable solution for all insolvent companies. There are some criteria which must be met before a CVA can be considered:

  • The company must have a realistic prospect of recovery and becoming viable again in the future.

  • The company should have projected cash flow forecasts that indicate there will be enough capital to cover the agreed upon repayment amounts.

OUR EXPERT COMPANY RESCUE ADVICE IS 100% FREE & CONFIDENTIAL GET HELP TODAY CALL 0800 999 0666

If you are going through financial difficulties our team of experts can find the right solution for you and guide you in the direction. 

  • WHAT IS THE PROCESS FOR SETTING UP A COMPANY VOLUNTARY ARRANGEMENT?

The process for setting up a Company Voluntary Arrangement (CVA) begins with contacting Company Insolvency Advice. If your company is going through financial difficulties and you think that your company may be eligible for a CVA, get in touch with us ASAP via email, telephone or online chat and we can get the process started.

  • Firstly we will assess your company’s circumstances by carrying out a review of the company, its operations and its assets. We will determine its potential cash flow and create financial projections based on this information. We will then be able to advise you on whether a CVA would be a viable company rescue solution for your business.

  • A CVA proposal is then drafted for your creditors, based on what your company will realistically be able to pay in regular amounts over a fair amount of time.

  • Once completed a draft copy of the CVA proposal is presented to the company’s directors for approval. The terms can be revised if necessary, but if a realistic draft cannot be devised, then it may be determined that a creditors’ voluntary liquidation would be a more appropriate course of action.

  • If a CVA proposal is agreed upon with the directors, It is sent to all of your creditors.

  • A date is then convened for the creditors’ and shareholders’ meetings. During the creditors meeting the CVA proposal is discussed with your creditors to give them the opportunity to ask questions or request amendments to the CVA proposal.

  • If the voting thresholds are met at the creditors’ and shareholders’ meetings and the CVA is approved, a report is then issued to all of your company’s creditors and to the court. In this report it is detailed what happened during the meeting, which parties were present and how each party voted.

  • Upon approval of the CVA, all legal actions being taken against your company are halted and no further legal action can be taken against your company unless you fail to keep to the terms of the CVA.

  • Finally, the repayment process begins. Payment is usually made via monthly contributions to the Supervisor of the CVA. This money is then distributed amongst all of your creditors at regular intervals.

The whole process of setting up a Company Voluntary Arrangement usually takes around 6-8 weeks. It usually takes around one month from the point that you appoint us as your insolvency practitioner for the CVA proposal to be produced and posted to your creditors. Then the creditors’ and shareholders meetings are held to decide whether the CVA is approved.

  • WHEN CAN A COMPANY VOLUNTARY ARRANGEMENT BE PROPOSED?

We can help you to propose a Company Voluntary Arrangement to your creditors for payment of your debt at any time. So if you are struggling to pay your debts and starting to face pressure from your creditors, contact us ASAP for advice and help.

We pride ourselves on our quality of service and competitive rates. We have helped many businesses all over the country to set up Company Voluntary Arrangements so that they can work their way out of their financial troubles. Simply contact us via telephone, email or online live chat and we can give you a more accurate indication of how much the procedure of setting up a CVA for your company is likely to cost.

“We will look at your company’s situation, determine its cash flow and financial projections, and then decide whether a CVA is a realistic company rescue solution for your business.”

WHO ARE WE

Company Insolvency Advice

Company Insolvency Advice is a leading business rescue, corporate restructuring and insolvency specialists, with years of experience in providing corporate debt solutions. We understand the daily pressure you are under as a director and our team of expert consultants cover the whole of the country in order to discuss debt solutions with company directors.

NATIONWIDE COVERAGE

We cover the whole of the UK

From our office in the North West of England, we provide a national advice service to the whole of England, Scotland and Wales. We aim to offer tailored, high quality service of local business advisors, with the experience, knowledge and support of a huge, national organisation.

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