Video Explaining CVA

A company voluntary arrangement or CVA is an insolvency procedure that allows a company to pay back a proportion of its unsecured debts over a period of 3-5 years.  The proposal is voted on by the creditors and provided that 75% by value, of those that voted, support it then it becomes binding.  The company is then able to continue trading under the supervision of an insolvency practitioner.  Creditors cannot then enforce payment of any debts that pre-date the CVA.