A CVA is a proposal between the company and its creditors. This proposal can be very flexible and can include delayed or reduced payments of debt, capital restructuring or an orderly disposal of assets.
Once agreed, this proposal is binding on all creditors and requires limited court involvement. It is also possible to obtain a moratorium to protect the company from creditors taking legal action or continuing with existing action.
For further advice and assistance regarding any aspect of the above insolvency procedure, please contact BRI. We will discuss, free of charge, any further implications and alternatives with you. |
