An Introduction to Administration and Company Voluntary Arrangements
- Price: £3.60
- Published: July 2017
- Type: Business Information Factsheet
- Format: PDF
If a company gets into financial difficulties, it can quickly be unable to pay its debts and may be wound up by the people or businesses to whom it owes money. However, if the underlying business is sound, it may be possible to rescue the company and allow it to continue trading.
Administration and Company Voluntary Arrangements (CVAs) are formal procedures that a company can pursue as alternatives to being wound up, or liquidation.
This factsheet provides an introduction to administration and CVAs. It explains when each procedure can be used and describes some of the main processes involved.
This factsheet should be used in conjunction with BIF199, An Introduction to Company Insolvency and Liquidation.