Call now 020 7504 1300 Monday to Friday 9am - 5pm for confidential free advice

Directors and business owners can use a CVA to expand their business

A company voluntary arrangement (CVA) offers many benefits if you have a profitable company that’s been devastated by the Covid-19 pandemic. A CVA is a contract that allows an insolvent company to continue trading while repaying creditors over time. The procedure is great for a company that requires substantial debt to be excused so trade and cash…

Read More
Creditors must move swiftly and request ameeting of creditors

Many business owners and directors will return after lockdown to discover they’ve become creditors in a statutory insolvency procedure, most likely administration. This is because administration is an attractive solution for business owners looking to avoid incurring further debts with suppliers following Covid-19. The procedure is a rescue mechanism for asset-rich but insolvent companies and…

Read More
Pre-pack administrations help directors restructure their businesses

Expect an increase in pre-pack administrations over the next 6 months as panic-stricken company directors consider their restructuring options post lockdown. Depending on the circumstances, a pre-pack administration can offer huge benefits to the director of a profitable, but insolvent company. The procedure is a useful restructuring mechanism that helps business owners place insolvent companies…

Read More
Seek advice from an independent professional when considering any insolvency procedure

When attempting to restructure or liquidate a company you will need a strategy designed for your specific requirements and circumstance. Lawyers are expensive and a licensed insolvency practitioner (IP) may not be able to provide you with impartial advice. In these situations, it’s always best to seek the support and guidance of an independent professional…

Read More
Creditors must be proactive in creditors' meetings

Most creditors assume they’ve lost all their money when a customer enters a formal insolvency procedure. That’s because few creditors understand how much they can influence an insolvency procedure by actively engaging at Creditors’ Meetings. Creditors’ Meetings usually take place between 1 and 10 weeks after a company declares insolvency. At this meeting, creditors are:…

Read More

Post lockdown, many directors will restructure their companies using insolvency procedures, most likely administration or a company voluntary arrangement (CVA). The Government recently introduced a moratorium facility, which offers 20 to 40 days of protection from creditors. But a director who opts for this will undoubtedly find themselves considering a CVA or administration once the…

Read More
Scroll To Top