Company Voluntary Arrangement (CVAs)

A CVA is an insolvency procedure which allows a distressed business to establish a legally binding agreement with its creditors about repayment of all, or part of, its debts over an agreed period of time. 

TDC Solutions Limited will work with you to build the CVA proposal for agreement by the creditors.

 Once proposed, TDC Solutions Limited will report, as nominee, to court on whether a meeting of creditors and members should be held to consider the proposal. The meeting decides whether or not to approve the CVA proposal. A simple majority of votes cast at the members meeting along with 75% of the votes cast at the Creditors Meeting are required to approve the proposal.

Once approved all creditors that receive notice of the meeting are bound by the terms of the arrangement. TDC Solutions Limited will then act as the supervisor of the CVA and once completed the company’s liability to its creditors (who had notice of the meeting of creditors and therefore bound by the terms of the agreement) is cleared.

The business will be able to continue trading during the CVA and afterwards.