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Company Voluntary Arrangements
A Company Voluntary Agreement or CVA is an agreement between an insolvent company and its creditors where the creditor agrees:
- to accept late payment
- forgo payment of a debt
- forego payment of part of a debt
It is an attractive option for a struggling company and its creditors as it :
- avoids the cost of an administrator
- avoids the cost of liquidation
- releases more money which can be paid to creditors
At Hart Brown our specialists will advise you on the procedure and can help with the discussions with your creditors to encourage agreement.
To speak to someone who can advise on company voluntary arrangements or any other legal matters relating to your business call, email or request a call back from one of our specialist lawyers.