Company Voluntary Arrangement and CVA Voting

7 August 2017

Example of Voting at an CVA Creditors Meeting

Total PAYE Debt £22,000.00 Total VAT Debt £25,000.00 Total Unsecured Creditors £250,000.00 Employees Claims £33,000.00 Total Debt in CVA Proposal £330,000.00

Present at Creditors Meeting

PAYE £22,000.00
VAT £25,000.00
Unsecured Creditors £121,000.00
Total Votes Cast £168,000.00

In Favour £159,878.00
Reject £8,122.00

Total %age in Favour 95.17%
Toal %age Rejecting 4.83%

Proposal Accepted

YES

Since the recent amendments to the insolvency rules in April 2017 there is no need for a physical creditors meeting as they can be done via email, or virtually using web conferencing.  However a physical meeting can be held if the majority of creditors want one.  

Categories: CVA, What is a CVA or Company voluntary arrangement?