Insolvency is the last thing a business wants to have to face, but sadly, it’s an all too common problem. A total of 4,308 companies entered insolvency in Q3 2018, including 3,083 creditor’s voluntary liquidations (71.6%), 741 compulsory liquidations (17.2%), and 484 other insolvencies (11.2%). But if you’re facing insolvency, it doesn’t always have to
Whether you’re a company or an individual, insolvency ultimately leads to an individual voluntary arrangement, company voluntary arrangement, or bankruptcy. Any such endpoint will protect those in trouble from their creditors, and may result in the creditors losing some of the money they are owed. For those who have genuinely hit hard times, these are
If you find your business in a state of insolvency, exposed to continual pressure from creditors, it may be time to consider a Company Voluntary Arrangement (CVA). You can keep trading while ensuring your creditors are reasonably repaid over time. But, there is a lot to understand. Therefore, this guide provides critical information about CVA
