Company Voluntary Arrangement

By: Phoenix Company Consultants  01/07/2009
Keywords: Insolvency, Business Recovery

In a Company Voluntary Arrangement (CVA) the existing company negotiates reduced and extended payment terms with its creditors.  This may be upto 80% debt write-off with the balance payable in equal installments over 60 months.  It requires the consent of the a majority of creditors and 75% by value.

Keywords: Business Recovery, Insolvency

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