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Thursday, 13 March 2014

Latest CVA case studies

Both of the companies below were rescued by company voluntary arrangements and creditors received a substantial amount in the pound over a fixed term.

The first was a case where the local authority had obtained a liability order in respect of unpaid business rates. Through negotiation, the provision of updates and finally the supply of a draft CVA, KSA were able to gain an undertaking for this order to not be enforced. Read more on the case here:

The second case resulted in working alongside another insolvency firm on the bank's panel due to the debt owed and the bank' potential exposure. The case also demonstrates that a company can successfully propose to exit CVA early if things are going well. See the full case study here:

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