Company Voluntary Arrangement (CVA)

We have advisors who will be sympathetic to your situation and guide you through the various alternatives that are available to you. This ensures you get the best solution for you and your creditors. A corporate rescue may be feasible saving the need to appoint a receiver. With a good company insolvency business rescue consultancy negotiation with creditors and debt restructuring followed by refinancing may preclude the company being wound up. Our business counsellor will be able to advise you on the best course of action. The decision will be yours.

The choice you make in who helps you resolve your debt problems is very important. The wrong choice can lead to further months even years, of misery and anxiety.

Since the implementation of the Insolvency Act on 29 December 1986, anyone undertaking the duties of liquidator, administrative receiver, administrator or supervisor of a corporate voluntary arrangement must be a qualified insolvency practitioner.

Debt Free Whizz in conjunction with Capital Brokers is able to advise and work with you and our associated insolvency practitioner to ensure the best possible outcome.

Company Voluntary Arrangement

This is an insolvency procedure allows a financially troubled company to reach a binding agreement with its creditors about payment of all, or part of, its debts over an agreed period of time.

It can be proposed by the directors of the company it cannot be proposed by creditors or shareholders. When the Company Voluntary Arrangement (CVA) has been proposed, a nominee (who must be an insolvency practitioner) reports to court on whether a meeting of creditors and shareholders should be held to consider the proposal.

If 75% of the creditors agree to the proposal, it is then binding. All creditors who had notice of the meeting are bound by the terms of the arrangement. The company can continue trading during the Company Voluntary Arrangement (CVA) and afterwards.