In times of financial difficulties
Corporate Recovery and Insolvency terminology
Company Voluntary Arrangements (“CVA”)
A CVA is a binding arrangement between a company and its creditors whereby a company generally agrees to pay creditors X p in the pound over a period of time. It is a tax-free way of reducing a company’s burden of debt and saving the business. It is possible for a “small” company to obtain the protection of a moratorium from creditors’ claims whilst a CVA is being proposed. Other companies need to first go through an Administration if a moratorium is required.
If the creditors accept the CVA, an Insolvency Practitioner will be appointed to supervise it.
For Carter Backer Winters’ interactive guide to Company Voluntary Arrangements please click here.
For an easy to use interactive ready reckoner to calculate the effect a Company Voluntary Arrangement might have on your balance sheet please click here.
The team is experienced in:
- Rescues and turnaround
- Restructuring and administrations
- Voluntary arrangements and liquidations
- Debt negotiations
- Crisis management
- Personal insolvencies including IVAs
- Your options (the terminology) explained
John Alexander
provides practical and value-preserving solutions. He is sought by businesses, individuals, the media and those on the lecture circuit.
d: 44 (0)20 7309 3827
e: john.alexander@cbw.co.uk
Carl Bowles
Director, Carter Backer Winter LLP
d: +44(0)20 7309 3930
e: carl.bowles@cbw.co.uk
Melvyn Carter
Partner, Carter Backer Winter LLP
d: +44(0)20 7309 3828
e: melvyn.carter@cbw.co.uk
Robin Davis
Partner, Carter Backer Winter LLP
d: +44(0)20 7309 3896
e: robin.davis@cbw.co.uk
