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Company Voluntary Arrangement (CVA)

Company Voluntary Arrangement (CVA) – this is one of the most useful tools an Insolvency Practitioner can utilise and is where a company puts a proposal to its creditors offering payment in full and final settlement, normally over a period of time.  The proposal will outline the reasons why the company has found itself in trouble and more importantly the steps that have been taken to remedy the situation going forward.  The proposal includes a suitable payment plan, tailored such that the company is able to meet it and creditors consider it acceptable to them.  The key thing with a CVA is that the company continues to be run by it’s officers rather than a 3rd party administrator/liquidator.