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Company Voluntary Arrangement (CVA)
A CVA (Company Voluntary Agreement) is a legal agreement made between your company and its creditors. It aims to enable the company to make regular payments to its creditors and reduce the building pressure from them. The CVA allows you to repay your outstanding debts calculated on a monthly affordable fee. Cooper Matthews provides an initial CVA consultation free of charge with a review of the current financial status of the business. Any fees thereafter are included in the agreed monthly payments. Any remaining debts after the allocated repayment time are written off. The CVA typically writes off around 45% of the company debt.
Once a CVA is set in place, the company directors can usually run the business as normal with the Insolvency Practitioner supervising the arrangement. The CVA allows the business to continue whilst aiming to improve its position with its creditors and puts a stop to any court proceedings or winding up action. It allows the company to free up its cash flow pressures and enable trading to continue as normal.
We can help your business...
- Company debt written off
- No upfront investment required
- Winding up petitions and other legal action stopped
Voluntary Liquidation
With Voluntary Liquidation you close the business and start again. Put available resources into a new company rather than struggling to pay legacy debts.
We can help your business...
- Legacy debt written off
- Directors maintain control of the closure process
- Resources can be put into a new company
Pre pack Administration (Phoenixing)
In a pre pack administration you create a new company which buys the assets of the old business and then trades in its place without the burden of debt.
We can help your business...
- Legacy debts are written off
- Unfavourable lease agreements are left behind
- Brand name, goodwill and employees are retained
Winding Up Petition
The forced closure of a limited company is referred to as winding up. This usually occurs when one or more of the company's creditors want to force closure on the business.
With so many businesses falling into arrears with creditors, winding up petitions are becoming far more commonplace.
Receiving a winding up petition can present serious implications for the company and its directors. If a business does receive a winding up petition, it is vital that it seeks immediate guidance from an insolvency specialist such as Cooper Matthews.
If you have received a winding up petition, you can call Cooper Matthews for an informal discussion. Even if you are concerned that a winding up petition is on its way to you, Cooper Matthews are more than happy to talk through it with you. There are many steps that can be taken upon receipt of a winding up petition that may help with the company's current situation that you can discuss through with an insolvency specialist.
Company Insolvency Advice
Cooper Matthews are the leading business debt company insolvency specialists. We aim to help businesses who are currently suffering company insolvency get back on their feet and become more financially stable.
Company insolvency will occur for any business that is experiencing difficulties in paying off debts or whose liabilities exceed their assets. Should this occur, the company will be forced to completely remodel its financial structure to enable recovery and rehabilitation.
Cooper Matthews employs company insolvency experts with up to a decade of experience who can offer bespoke and comprehensive advice to directors and financial managers of small to medium-sized businesses. Company insolvency can become a reality for any business regardless of size or reputation, be it a start-up company trying to get a foot in the door or a well-established, world-wide recognised company.
Insolvency Practitioners we use are members of one of:
