Is the CVA mechanism underused in Scotland

29 July 2011

Is the Insolvency Mechanism the Company Voluntary Arrangement or CVA underused in Scotland– A Technical CVA SeminarThe total number of CVA’s filed in the UK is around 600 - 700 every year. In Scotland it is around 6 pa. We normally do 4-5 of them! CVA’s allow a company to continue to trade by cutting costs quickly, can save jobs and in most cases gives a better return to creditor than an aggressive liquidation or pre-pack.KSA Group propose the highest number of CVA’s in the UK and we have a success rate of over 90% creditor approval. As such, we would like to involve Scottish professionals in promoting this excellent rescue technique. The advantage to corporate advisors, accountants or lawyers of the CVA mechanism is that of business continuation. Your client can still remain your client once they are in a CVA and not be taken over by an insolvency practitioner which would be the case in administration. Also as a condition of all of our CVAs, monthly or quarterly management accounts are requiredto be produced to the CVA Supervisor, will provide additional work for your firm. We will also need help in putting together the forecasts in a CVA which is work that KSA Group will pay you for.Being blunt, as this seminar will be the first of its kind in Scotland we are looking to gauge interest . If you would like to attend then please call Robert Moore on 07584 583884 or email robertm@ksagroup.co.uk.  All attendees will receive a full course manual and our unique USB online insolvency toolkit free to take away which in itself is worth £99.Location: Edinburgh Training Conference CentreDate: October 12th 2011Time: 4.30-7pmCost: £25+VAT to include canapés and drinks