Company Voluntary Arrangement (CVA)

A CVA is an arrangement between your struggling company and its creditors which secures it with a protective fence from attack from creditors, including HMRC.

It allows your financially distressed but underlying viable company to repay its creditors, usually a significantly reduced amount. The creditors accept a sum of money as a way of settlement towards the debts which are owed to them, over a period of usually 3 to 5 years.
You could benefit from a CVA if you have cashflow problems, mounting debts and need to find an effective solution.

The main benefit of a CVA is that it allows a fundamentally good business that has become saddled with debt and cashflow problems, to survive and trade out to recovery and make money again. The directors stay in control of the company and can continue trading, giving them the breathing space they need to fix the underlying problems to turnaround the business. It also allows the opportunity for the business to be sold or refinanced.

Why Choose A CVA?

These advantages make it one of the most preferred rescue options for a troubled company because company stakeholders get the best chance to recover as much of their monies as possible.

To make a CVA successful requires the support of an experienced turnaround advisor/specialist.

If you have cashflow and debts problems and are considering your options then a CVA may be the solution for you.
To obtain approval, the rules require at least 75% in value of the creditors voting to agree. And once the proposal has the go ahead, all unsecured creditors are bound by the arrangement.

We can help arrange this to make sure you have the best chance of a successful outcome when negotiating with your creditors and HMRC.

But you must act quickly and seek professional help early to maximise your chances of successfully negotiating an agreement that works.

READY TO TALK? 

If you'd like to talk to us or discuss any of our services please call us on  07866 767967 email us contact@claritytransformation.co.uk  or book a call using the button below.

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What Are The Benefits?

  • You are protected from creditors and HMRC threatening the company with winding-up petitions
  • The directors remain in control and can continue running the business
  • You can focus on rapidly improving cashflow and the company financial position
  • HMRC and other creditors are more supportive – they now have a vested interest in seeing your company recover back to profitable trading, allowing them to recover a higher percentage of their monies compared to forcing it into liquidation
  • You can rapidly reduce costs with increased flexibility to restructure the business – e.g. terminate property leasing obligations, staff costs and onerous contracts
  • No announcement is required to your customers

How WE Help

We help you successfully manage the challenges of a CVA

A CVA is a challenging situation for the directors to handle and expert help and advice will ensure you navigate it successfully.

Clarity Transformation can help you turnaround the business and recover it back to health.

Contact us now to solve your problems.

CLIENT TESTIMONIALS

"Obi is unique combining the skills of a CEO and a CFO. Obi understands businesses and how to make them fly. He is highly intelligent, personable and achieves results. The sort of person that you want on your team."

- Justin Boyce-Cam, Partner BDO, Australia 

“He gets things done through his highly collaborative management style and with persuasive leadership. I have seen Obi inspire clinical engagement and gain buy-in from executive peers and divisional leadership teams – often in highly charged or challenging situations. He will take an integrated approach to often conflicting goals by linking finance, quality and operational priorities to deliver sustainable financial, quality and operational improvements.”

- NHS CEO  - South East 

“Obi is highly intelligent. He understands how hospitals work and this allows him to deliver results. He will gain buy in and co-operation from clinicians, finance and operations to ensure your goals are achieved. He has a wealth of experience to draw upon in order to transform services, save money and engage staff - I needed a solution rather than a series of quick short-term wins – Obi delivered this, and I would definitely engage him again if the need arose.”

- NHS CEO  - North East 

"I worked with Obi on a senior leadership project for an international hospital. It was a pleasure to work with someone who has the same strong work ethic! He was professional, extremely knowledgeable and added immense value to the project."

- Tracy Bedwell, MD of global M&D company

Obi is a person who can make a real difference through his ability to understand the key challenges involved in a turnaround or business improvement situation. He can work with stakeholders to both formulate a turnaround or improvement plan but most importantly to get buy in and actually deliver the plan. He has experience of a wide variety of industries primarily with SME's in the private sector and in the NHS in the public sector.

Stephen Burke, FD and Transformation Specialist

I have worked with Obi on a number of projects and found him to be diligent, well informed, highly experienced and able to follow through and deliver his work. I would certainly recommend him for any consulting engagements.

Jonathan Webb, CEO Clarity Associates Ltd

I have known and worked with Obi for the last ten years on a number of different projects in the NHS. All of these assignments have been complex, challenging and have required clinical, operational and financial changes to be made at pace. What sets Obi apart is his ability to take people with him through these changes and to communicate them clearly and appropriately to those impacted. The client is always disappointed when the work is complete as Obi is a joy to work with and has a passion for ensuring that the changes made are sustainable and management teams and their staff develop their capabilities/capacity along the way.

Iain Alexander - Partner, PwC, Leader Government & Health Industries Restructuring  

In these mad times it's great to find someone who can help you out of looming financial trouble so I was delighted to be introduced to Obi who brought clarity to my complex network of businesses. Once things became more settled, I expected to need to find someone else to review the growth and expansion plans for my media business, but again Obi was an invaluable consultant on a whole range of financial and business growth issues. Now pleased to work with him as our outsourced FD on contract.

Jack Chew, CEO Physio Matters, Therapy Live and Chews Health