Individual Voluntary Arrangements (IVA) and Company Voluntary Arrangements (CVA)
5 July 2019: The above are formal insolvency procedures to try and enhance the return to creditors and avoid bankruptcy for an individual and either administration or liquidation for a company. Both an IVA and CVA need significant thought and planning and will require the advice and assistance of a qualified Insolvency Practitioner who will act as Nominee when the IVA or CVA is proposed to creditors and as Supervisor if creditors approve what is proposed. All proposals must be fit, fair and feasible and have a reasonable prospect of being approved.
Should you be an individual or a director of a company that would like further advice on an IVA or a CVA, please contact any one of BRI’s experienced management team who will be more than happy to discuss these procedures in greater detail to see if they are viable options.