Creditors' voluntary arrangement ("CVA")

A positive way forward for a potentially viable business. You may have heard of the Chapter 11 process in the US where companies attempt to trade out of difficulties while receiving Court protection from creditors. A company voluntary arrangement ("CVA") is the nearest UK equivalent. A CVA allows directors a company in financial difficulty to reach an agreement with its creditors regarding payment of its debts. The CVA process has to be carried out by a licensed insolvency practitioner but, unlike administration and liquidation, the directors remain control... Read more

Click on the articles below to read some CVA case studies.

Large CVA

This Norfolk based manufacturer had traded for 27 years. Since scaling up the operation with a move to a substantial 120,000sq ft new manufacturing facility it had made large trading losses which had been funded by refinancing ... Read more

Small CVA

The business was established over 100 years ago but in recent years there had been a steady decline in sales that had seriously impacted profits. The directors were nearing retirement, were no longer as focused... Read more