Company Voluntary Arrangement (CVA)
A Company Voluntary Arrangement (CVA) is a formal business rescue option for insolvent companies. It’s initiated by the directors and leaves you in control of your company while the insolvency is dealt with.
We can use a CVA if your company is experiencing difficulties in paying its debts but has an underlying business that’s worth saving.
The advantage of a Company Voluntary Arrangement is that it can ensure the survival of your company, while interest on debt repayments is frozen and affordable instalments are agreed.
What is a Company Voluntary Arrangement (CVA)?
A CVA formally defers payments to your creditors and freezes historic debts, giving you time to address your business’ challenges and create a new payment plan.
A licensed insolvency practitioner must be involved in the Company Voluntary Agreement process. The benefit is that you have an insolvency expert on your side. They’ll guide you through the process and help you secure a new agreement with your creditors.
You can read more about the exact CVA process here.
Our aim throughout your CVA is to take the burden off you. We prepare the necessary paperwork, arrange the meetings with creditors and help you prepare your business for a successful. debt-free future.
Other services we offer
Business insolvency
FA Simms specialises in providing essential help and advice on business insolvency to micro-, small- and medium-sized companies in the UK.
Pre-pack administration
If you have a core business that works, a pre-pack administration could save it – and leave behind your old company’s debt.
Business rescue
It’s normal for a business to experience financial challenges. If these are causing you worry, we could ease the burden and get you back on track.
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