Rescue Your Business with a CVA

Discover how a Company Voluntary Arrangement from Fastspeed Legals can safeguard your business from financial distress and resolve a winding up petition.

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Understanding Company Voluntary Arrangements

A Company Voluntary Arrangement (CVA) is a legally binding agreement between a company and its creditors, allowing the business to repay its debts over a fixed period. This arrangement is designed to help struggling businesses regain control over their finances, continue trading, and avoid the severe consequences of insolvency. By restructuring debt payments, a CVA provides breathing space for companies to stabilize and plan for a profitable future.

Key Features of a CVA

Debt Restructuring

Reorganize your debt into manageable payments, allowing your business to maintain cash flow and operations.

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Creditor Agreement

Negotiate terms with creditors to reduce overall debt and secure more favorable repayment conditions.

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Business Continuity

Keep your business trading while addressing financial challenges, avoiding the disruption of insolvency proceedings.

Ensure Continuity

Legal Protection

Gain protection from legal actions, such as winding up petitions from existing creditors, while the CVA is in place.

Secure Your Future

Understanding the CVA Process

A Company Voluntary Arrangement (CVA) is a powerful tool that can help your business overcome financial difficulties. Here’s a step-by-step guide on how it works.

1

Initial Consultation

Meet with our experts to discuss your financial situation and explore the benefits of a CVA.

2

Proposal Drafting

A tailored CVA proposal that outlines how your debts will be managed will be drafted forv you.

3

Creditor Approval

Upon continuation of a CVA, your included creditors can no longer chase you for payment.

Common Questions About CVAs

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What is a CVA?

A CVA, or Company Voluntary Arrangement, is a legal agreement with creditors to repay company debts over a fixed period.

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How long does a CVA last?

Typically, a CVA lasts between 3 to 5 years, depending on the terms agreed upon with creditors.

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Will a CVA affect my business operations?

A CVA allows your business to continue trading while repaying debts, minimizing disruption to operations.

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Can a CVA stop a winding-up petition?

Yes, implementing a CVA can halt a winding-up petition, allowing your business to remain operational.

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Who can propose a CVA?

A limited company director.

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Is my company eligible for a CVA?

Most companies facing financial difficulties can consider a CVA, but eligibility depends on specific circumstances.

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How does a CVA affect company directors?

Directors remain in control of the company during a CVA, unlike in administration or liquidation.

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Is a CVA Expensive?

Most CVAs repay less money than owed, including set up costs.

Company Voluntary Arrangement