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A successful conclusion to a Company Voluntary Arrangement despite variations

Even when a company is unable to adhere to the terms of an original CVA arrangement, variations in the terms can be accepted.

Following significant bad debt we were approached to help a struggling conservatory business. As the business was viable, the director was keen to see a return to the creditors so a Company Voluntary Arrangement (CVA) was proposed.

Even though the company was not able to adhere to the terms of the original arrangement thoughout the duration of the CVA, it was possible to put forward a variation which was in the creditors’ best interest to accept and which also allowed the company to survive.

Read the full article on our sister site, Cashsolv.

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