A CVA, or Company Voluntary Arrangement, is a formal agreement between the Company and its creditors with the aim of deferring payments to creditors over a set period of time to give the Company an opportunity to survive and trade out of its current financial difficulties.
A CVA could be particularly useful if your business is experiencing creditor pressure, suffering from cash flow problems or receiving threatening letters from HMRC in respect of unpaid PAYE, VAT or Corporation Tax.
What is ‘Brexit’?
The date has been set. On 23 June 2016, the UK will hold a referendum so as to determine whether or not it should leave or remain in the European Union, hence: ‘Brexit’. The aim of this article is to assess the implications of Brexit upon cross-border restructuring and upon insolvency proceedings. This is a particularly significant assessment in light of the fact that the UK is renowned as a leading restructuring jurisdiction.