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Company Voluntary Arrangement and Debt Management Services from Sinclair Harris |
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Company Voluntary Arrangement This is a legally binding agreement between a company and its creditors. It is a procedure where debt reorganisation takes place usually involving reduced payments of debt, but may involve a delayed payment of debt or capital restructuring on the orderly disposal of assets. It is proposed to creditors and shareholders at separate meetings. This agreement reorganises the debts of a company, to make reduced payments towards the total amount of company debt. Only a percentage of the debt is paid to creditors. There is a limited involvement by the Court and the scheme is under the control of the Licensed Insolvency Practitioner acting as a supervisor. It is important to realise that the Insolvency Practitioner is a supervisor to the scheme, not of the company. The Company remains under the control of its management and directors. The CVA procedure was designed primarily as a mechanism for business rescue. Sinclair Harris has completed a number of successful CVA's.
Please click here to send an enquiry email or to request a call-back
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Sinclair Harris is fully regulated by the Department of Trade & Industry (Berr), are Members of the R3 Association of Business Company Professionals, as well as the Institute of Chartered Accountants of England and Wales. We have helped hundreds of businesses and individuals in the past and understand their problems. |
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is proud to be associated with |
The Institute of Chartered Accountants of England and Wales |
R3 - Association of Business Recovery Professionals |
Copyright © Sinclair Harris, 2006-2009. All rights reserved