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A CVA is a legally binding agreement with your company's creditors. What does CVA mean and how does a company voluntary arrangement work? This page will help you learn all about the CVA tool and how it can help you stop creditor pressure and turnaround your company. Click the guides to the left for lots more free information. Or you can download our free 82 page guide here.
If you do not wish to read through all the guides and info on the site then please call our support centre on 0800 9700539 for a no obligation confidential chat. Read on to see the benefits of a CVA
It is simply a deal between the insolvent company and its creditors; this deal places a legal ringfence, called a moratorium, around the company and stops creditors attacking the company. It allows a viable but struggling company to repay some, or all, of its historic debts out of future profits, over a period of time to be agreed.
Directors stay in control of the company with KSA Group providing support. It can stop legal actions like winding up petitions, if you use a quality, experienced advisor. The directors need to be committed to saving the business and the recent management incentive plans unveiled for JJB Sports has been structured so that directors share in the success, as well as the creditors.
It has been part of UK law since 1986 and is one of the Government's preferred rescue options. Indeed the recent Budget proposed changes to the CVA because the Government wants more companies to use this brilliant approach.
Testimonials for Keith Steven and KSA Group
"Having tried and failed to negotiate a time to pay agreement with HMRC, we got in touch with KSA group in order to discuss our options on restructuring the debt we had. As a Managing Director responsible for the livelihoods of a group of people I'd spent years working with, this period was fraught with stress, worry and uncertainty. Finding the right partner to help us get back on our feet was singularly the most important decision in our Company's history- and undoubtably by selecting KSA one we got right. Their experience and depth of knowledge of the CVA process was apparent from our first formal meeting, and they were able to deftly guide us through the process. Their people were responsive to our queries, empathetic with the situation we were in, and critically able to develop a document for presentation to creditors that undoubtedly made the difference between failure and success.
On a personal note, being able to trust your advisors to 'handle it' allows you to focus on the business- critical to getting out of the situation. I know first hand the emotional turmoil and stress caused by the threat to your business, and if you are reading this and fancy a pint with someone who has been there and come through it, get in touch with KSA Group and I'd happily meet up for a chat."
December 27th 2011
We also aim to bring the CVA mechanism to the attention of professionals in Scotland. We held a seminar in Edinburgh on the subject which was well attended.
