Company Voluntary Arrangements have been mentioned in the news recently.
What is an Arrangement Like This?
Company voluntary arrangements are where the company and its creditors come to an agreement. This agreement is implemented and supervised by an insolvency practitioner. The CVA is often used to avoid other types of insolvency procedures. However it can also supplement other procedures. These can also be used in conjunction with administration, where a moratorium can provide the company with some space to agree proposals with its creditors.
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