Bramley Manor | Company Debt Solutions

Company Liquidation

Company Voluntary Agreement (CVA)

As a company in debt, your options are rather more limited than as an individual. I am extremely experienced in dealing with company debt and will seek to keep a business going wherever possible.

A company voluntary arrangement (CVA) is a procedure that allows a company:

To settle debts by paying only a proportion of the amount that it owes to creditors.
To come to some other arrangement with its creditors over the payment of its debts.

A CVA comes into force at the time when the company's creditors approve a CVA proposal made in respect of the company. However, it is common for the CVA documentation to specify a different date from which its provisions apply.

A proposed CVA is considered and voted on by the company's creditors by way of one of a number of permitted procedures, which include e-mail, correspondence and internet meetings.

The formal insolvency process of liquidation is used for the sole purpose of closing a company and dissolving it from the Companies Register. To enter into liquidation, a business will need the help of an appointed liquidator, which will be a qualified Insolvency Practitioner.

It is the process that your company faces if you have cash flow problems on a regular basis and creditors are threatening to take enforcement action.

A compulsory liquidation is a form of liquidating a company which involves the courts. It happens when a winding-up petition has been issued by a creditor of an insolvent company, due to a debt not being satisfied.

These are your various debt solutions