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Results for tag: "Company Voluntary Arrangement"

Credit Risk Measurement and Management - Online Course - Product Thumbnail Image

Credit Risk Measurement and Management - Online Course

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The Handbook of Credit Risk Management. Originating, Assessing, and Managing Credit Exposures. Edition No. 2. Wiley Finance - Product Thumbnail Image

The Handbook of Credit Risk Management. Originating, Assessing, and Managing Credit Exposures. Edition No. 2. Wiley Finance

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A Company Voluntary Arrangement (CVA) is a formal insolvency procedure that allows a company to reach an agreement with its creditors to pay off its debts over a period of time. It is a form of bankruptcy, but it allows the company to continue trading while it pays off its debts. The CVA market is a growing sector of the insolvency industry, with more and more companies turning to CVAs as an alternative to liquidation. The CVA process is overseen by an insolvency practitioner, who will negotiate with creditors on behalf of the company. The practitioner will also ensure that the company meets its obligations under the CVA. The CVA must be approved by a majority of the company's creditors before it can be implemented. Some of the companies in the CVA market include Carillion, Monarch Airlines, BHS, and Thomas Cook. Show Less Read more