Week 12 - Company Voluntary Arrangement Flashcards
1
Q
What is the CVA?
A
An agreement between a company and its creditors
2
Q
What must a CVA be approved by?
A
- 75% of its members (Simple majority)
- 75% of creditors by value
3
Q
What are CVAs supervised by?
A
An insolvency practitioner
4
Q
What may a CVA compromise?
A
Composition of debts and/or scheme or arrangement
