Talk to us today in confidence0800 970053907833 240747

CVA versus Pre packs - The Great Debate

7 August 2017

CVA versus Pre packs - The Great Debate

New CVA debate being held on the 7th of November 2018.  See this page for details!

Date: Wed 8 May, 6pm
Venue: Nabarro LLP, Lacon House, 84 Theobalds Road, London WC1 8RW
Cost: TMA Members: FREE, Sponsors: £40.00 (after allocated free places),
Non-Members: 40.00 (Guests of KSA Group go free!)

With H.M. Governments Insolvency Service planning yet another review of the current practices regarding pre-packaged administration sales (pre-packs), this thorny subject once again comes under the spotlight. The Insolvency Service estimates that 25 per cent of all administrations are pre-packs, of which around 85 per cent are sold-on to parties already linked to the company.

At the same time the Company Voluntary Arrangement (CVA) procedure, enshrined in law since 1986, remains a powerful and effective turnaround tool, yet less than 800 were entered into last year a surprisingly low number for an economy full of stressed and distressed, debt- laden companies.

This evenings meeting, part of the nationwide activities of the TMA (UK) will commence with a welcome to Nabarro LLP - a new host & venue for the TMA (UK) - and an introduction to the evenings presentations and debate.

Following this will be a presentation from a protagonist from each camp who will argue the merits of their case accordingly.

In the pre-pack corner: David Dunckley, Partner, Grant Thornton plc and standing up for CVAs: Keith Steven, Founder & CEO, KSA Group Ltd.

Opinions will be aired, questions - and perhaps voices - will be raised...........which instrument is legally more sound, commercially more effective or morally more correct? Should current legislation be amended on pre-packs? The Insolvency Service are proposing a 3-day notice period for creditors, does this negate the pre-pack concept? What is holding back the number of CVAs in use? Is the Insolvency Profession unduly biased, and if so, why?

A lively debate will no doubt ensure and attendees will be encouraged to participate during the questions & answers session.

Following this, and what may well be a welcome interlude before the debate spills over into the networking session, Alan Tilley, Principal - Bryan, Mansell & Tilley and Chair of the Standards & Admissions Committee (EACTP) will update the meeting on the recently launched EACTP (European Association of Certified Turnaround Professionals) accreditation programme.

Hospitality has been provided by this evenings event sponsor KSA Group Ltd.

This evenings speakers:

David Dunckley , Partner - Grant Thornton UK LLP

David is the Head of the National Mid-Market team in Grant Thornton's Advisory Practice. He specialises in advising underperforming businesses and their stakeholders.

David's experience includes both formal insolvency work, turnaround work, strategic business reviews, pre-lend reviews and due diligence assignments. Recent noteworthy assignments include administrator of Saab Great Britain Limited, St Lukes Healthcare and the Castlebeck Group. David also recently completed the sale of Seymour Pierce via a pre-packaged sale.

David works across a wide range of industry sectors including automotive, healthcare and professional practices. He is a member of the firm's Professional Practices Group and regularly works with underperforming firms and their lenders.

Keith Steven of KSA Group Ltd has been rescuing and turning-around companies since 1994; he has worked for insolvency firms, turnaround funds and venture capital investors. Keith formed his own turnaround practice, KSA Group Ltd in 2001, and he is acknowledged as an expert in the delivery of CVAs for SME companies faced with financial difficulties.

Keith has contributed greatly to the understanding and application of CVAs through the numerous pages of advice and information contained on his various CVA-related websites; his CVA proposal model is recognised by many in the industry as best in class. To put forward the case for CVAs in this evenings presentation, Keith will draw upon those instances where a CVA was a better option than a pre-pack sale, and by which companies were successfully rescued for the long-term benefit of creditors, stakeholders, directors and employees.

KSA Group is one of the leading turnaround and insolvency specialists in the UK, with offices and representatives in London and across the country. Their priority is company rescue, not corporate closure. The company developed the UK's first on-line turnaround and support site,, with over 1,500 pages of free information, PDF guides, FAQ's, flowcharts and case studies - information freely available, and of great value, to directors and advisors of struggling businesses.

KSA Group is delighted to sponsor this evenings event and is proud to be a Corporate Sponsor of TMA UK.

Nabarro LLP
Lacon House
84 Theobalds Road


Categories: CVA, Administration, What is a CVA or Company voluntary arrangement?, Pre Pack Administration Process and Procedures

A Worried Director

The Ultimate Guide For Worried Directors

Worried about poor cashflow? Feel you have got into a bit of a mess? Covid-19?, How to pay wages on pay day? For reassuring advice on a range of issues download our free Ultimate Guide For Worried Directors today. Or just call us on 0800 9700539

"KSA Group which owns this site, will help you fix problems in your business. We won't charge for any initial advice or face to face meetings. We speak in English. We will save you money and your precious time.  You can come to any of our offices

"We also follow up any meeting with a full "solutions report" which runs on average to 13 pages valuable free advice!!  No other practitioner offers this service.  In this report we advise on ALL the options and explain them clearly.  We advise on a course of action given the information you have given us ( the more information we have the better we can advise!)"

You are currently offline. Some pages or content may fail to load.