A CVA can be a powerful tool. It is frequently used as a solution by directors who feel their company has a viable future.

A CVA is legally binding agreement between a company and its creditors where the creditors accept a proposal from the company in full and final settlement of the debts owed to them.

Benefits of a CVA include:

  • Directors retain control of the business
  • Relief from creditor pressure
  • Stay on legal proceedings from existing creditors
  • Flexible to suit your business’s needs
  • Retention of key customer and supplier relationships
  • Typically, enhanced returns to creditors