Company voluntary arrangement
Voluntary agreement of a company with its business creditors / From Wikipedia, the free encyclopedia
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Under UK insolvency law an insolvent company can enter into a company voluntary arrangement (CVA). The CVA is a form of composition, similar to the personal IVA (individual voluntary arrangement), where an insolvency procedure allows a company with debt problems or that is insolvent to reach a voluntary agreement with its business creditors regarding repayment of all, or part of its corporate debts over an agreed period of time.[citation needed] The application for a CVA can be made by the agreement of all directors of the company, the legal administrators of the company, or the appointed company liquidator.[1]
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