Company voluntary arrangement

This is a reorganisation plan, usually lasting up to five years. It can involve the delay of debt repayment, reduction of liabilities, capital restructuring or an orderly disposal of assets. The procedure is administered by a licensed insolvency practitioner acting as a supervisor and has minimal court involvement.

A company voluntary arrangement, or CVA, can be proposed by directors, a liquidator or an administrator and often involves a period of trading during which a company makes monthly payments in part-satisfaction of its debts.
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