What is a company voluntary arrangement (CVA)?
A company voluntary arrangement (CVA) is a tool for business rescue like no other insolvency procedure which can give a viable business the chance of recovery. A CVA is a formal procedure and is a legally binding agreement between the business and its creditors. It sets out how repayments of company debt should be made to creditors and can deliver a better outcome than an administration or liquidation. Potential CVA benefits Some of the key benefits of a CVA are: all or a percentage of a company debts can be paid back, depending on...