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Company voluntary agreement
A company voluntary arrangement (‘CVA’) is recognised as the formal procedure that enables a company in financial distress to come to an arrangement with its creditors. By virtue of its title, it is a voluntary procedure but one that should be undertaken with expert assistance. The advantages of a CVA will permit the company to remain in business and will allow the company directors to run and operate the business themselves rather than an insolvency practitioner.
Saracens can provide expert help and legal advice by assisting in drafting a CVA for submission to creditors. The CVA will have to be approved by 75% of your business’ creditors but our commercial team has experience in negotiating with creditors and will endeavour to assist.
In addition, Saracens will be able to guide your business through the obligations of the binding CVA and help build a legal strategy for your business whilst the process is ongoing.
Call us to discuss matters.