A Company Voluntary Arrangement (CVA) is an agreement between an insolvent company and its lenders.
CVA's typically allow insolvent companies to pay back a percentage of their debts over a period of time. The payments are typically paid monthly and can continue for several years, helping cash flow for the struggling businesses.
When entering into a CVA it can often have some benefits for companies and lenders. A CVA is often the most effective way for lenders to recover some of the money that they are owed by the insolvent company.
Not all companies can enter into a CVA with their lenders. A CVA also isn’t always the best option. However, in most cases, a CVA gives desperate, insolvent companies an opportunity to facilitate a positive financial outcome while paying off lenders.
Facts about Company Voluntary Arrangements:
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