Company Voluntary Arrangements
When facing financial distress, particularly in times of economic uncertainty, a Creditors’ Voluntary Arrangement may be an option to relieve existing pressures and allow a business to continue.
A CVA allows a company to agree an arrangement with its creditors in satisfaction of some, or all, of its debts. Such arrangements are supervised by a qualified insolvency practitioner, with management retaining control of the day to day running of the business. Typically, a CVA may be used to allow the restructuring of underperforming properties and compromising significant trade or other unsecured liabilities.
Cork Gully professionals have a wealth of insolvency experience and deep understanding of commercial and financial considerations appropriate when considering CVAs. We work with management and directors to tailor arrangements with a view to satisfying the needs of key stakeholders alongside the requirements of the business to continue to trade.
We will thoroughly discuss the options available to the company before considering this route to ensure the best solution is found to enable your business to continue. Cork Gully is able to quickly review business and financial models and, utilising our decades of insolvency experience, form an assessment as to the viability of a CVA proposal. If a CVA is the most appropriate option, our highly qualified team are able to supervise the process in a smooth and effective manner.