Formal Protection
The two most commons means of formal protection are briefly outlined below. For more information please get in touch on 0151 – 651 2000.

Company Voluntary Arrangement (CVA)
A CVA is a binding legal agreement between a company and its creditors, which details what will happen to the company’s debts and liabilities.

Agreements tend to allow companies to repay their liabilities over a period of time while the directors remain in control.

Administration
Sometimes misunderstood as the final stage of a company’s life, administration can in fact give companies the vital time needed to get back on track.

During administration, a company may enter into an agreement where they are granted protection from their creditors while restructuring and recovery procedures are performed.

Call Addis, Walker & Co now on 0151 – 651 2000 for more information on our range of Accountancy Services.