Wednesday September 16, 2020
Company Voluntary Arrangements (CVAs) have been a restructuring solution for almost 35 years, having first been introduced in the Insolvency Act 1986. When used in the right circumstances and correctly, a Company Voluntary Arrangement can help to rebuild a resilient business model and realign economic interests for investors, employees, customers, suppliers and UK plc.
In the current climate it is more important than ever that companies and their advisers explore every avenue to promote the rehabilitation of businesses, be that through solvent rescue financing or by strategic and rationalised use of insolvency regimes.
In our latest publication, Restructuring Advisory Partners, Allan Kelly and Ian Corfield, explore how CVAs can offer a route to rehabilitating companies, while optimising value and outcomes for stakeholders.
Allan and Ian examine how the landscape of the restructuring market has evolved following the introduction of the landmark Corporate Insolvency and Governance Act, widely regarded as one of the biggest developments in corporate insolvency law, and how it could lead to a resurgence of a rescue culture that focuses on rehabilitating businesses.
Leveraging their restructuring experience, Allan and Ian explain how a CVA works and when it is an appropriate route for businesses to take, such as when a management team is determined to make a genuine change to their business model.
As the economy continues to respond to the impact of COVID-19 and Government intervention, we remain firmly committed to supporting businesses through this challenging period – providing guidance on options available and working hard to achieve the best possible outcome for all stakeholders.
The number of years since CVA’s were introduced