What is a Company Voluntary Arrangement? How can this help a company in financial difficulties?
– A Company Voluntary Arrangement is often referred to as a CVA
– Trading usually continues for the company
– A repayment plan is agreed with creditors based on what the debtor company can afford
– The CVA will typically be over a three to five year period
– Dividends repaid to creditors can vary from 25p to 100p in the £
– The CVA is a legally binding agreement between the company and the creditors
– The aim of the CVA is to allow the business to survive as a going concern, or to achieve better realisation of the company’s assets.
How do the directors make the difficult decision and choose between a CVA or a Pre-Pack Administration or a Creditor’s Voluntary Liquidation or to trade through?
That’s where we can help! We would be pleased to have a meeting to go through all the options – please call Tim Corfield, Mark Shaw or Janet Peacock for a free consultation.
Please do not hesitate to contact Tim at tim.corfield@griffinandking.co.uk.
Here’s what a couple of our clients have said about us recently:
“Janet Peacock, who is the Senior Business Relationship Manager for Griffin & King, the Insolvency Practitioners, has been my case manager from the start. From my first phone telephone call, Janet was extremely helpful and guided me and our company through the difficult procedures that were to be adhered to.
Janet also helped all our redundant staff, by guiding them through the procedure for redundancy payments.
Her professional and efficient manner, plus her being “on call” at all times to answer any difficult questions, has helped enormously and is ensuring that our case is being brought to a speedy closure”. AR – 14 November 2018
“A huge thank you to both Carrie & Leanne for all help and patience”. JJ – 28 January 2019
We have assisted many people with Company Voluntary Arrangements – view some more testimonials and see how we have helped.
If you would like further information on CVAs contact Griffin & King Insolvency Practitioners on 01922 722205, and speak to Tim, Janet or Mark. You can also contact Janet by email on janet.peacock@griffinandking.co.uk, or by text or calling on 07545 806531.
