Kann jeder mal selbst übersetzen, zeigt auch wie es abläuft, Gerichtsentscheidung zur CVA Genehmigung lese ich da nicht raus:
Company Voluntary Arrangement (CVA)
A CVA is a formal agreement with creditors that can overcome a company’s short term cash flow problems and enable its long term survival.
A CVA is effectively a compromise agreement between a company and its creditors. Creditors generally agree to write off a portion of their debt and receive payment over a set period of time.
In most cases the company makes monthly contribution payments into the CVA.
The company’s directors instruct an Insolvency Practitioner (IP) to act as Nominee. The IP prepares the company’s proposal to creditors with the director’s assistance.
Where appropriate, a moratorium can be applied for in Court, which temporarily protects the company from creditors’ actions whilst the proposal is being prepared and considered by creditors.
We liase closely with the company and its creditors to reach a mutually beneficial outcome. The directors remain in control of the company at all times and are able to focus on continuance of business, whilst the IP deals with creditors.
The proposal is issued to creditors and a meeting is called to enable creditors to consider and vote on the company’s proposal. In order for a CVA proposal to be approved, it must receive the support of more than 75% of creditors voting at the meeting.
Following the approval of a CVA proposal, the IP’s function changes from Nominee to Supervisor and their ongoing role is to ensure that the terms of the agreement are met by the company. The Supervisor reports to creditors and shareholders during the term of the CVA and distributes dividends.
Following the successful completion of a CVA, the Supervisor’s role is relinquished and the company continues to trade as normal.
At Bailams, we aim to seek solutions that benefit the company and creditors securing a viable long term trading opportunity. |
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