A creditor voluntary arrangement is a dramatic insolvency measure as it can have all the features of a great Kevin Bacon movie.
As a director you may think that it is morally wrong to not pay your creditors all of their money back in a creditor voluntary arrangement. You may think that your family should come second.
That’s fine, then a creditor voluntary arrangement is not for you.
But – when you have to lay off your staff because you can’t afford to pay the wages – how will you explain your morals to those loyal employees.
So you decide – if you want your company to survive and preserve your loyal workforce and to continue to be a contributor in your local economy then put any misplaced morals behind you and think of the future.
Think about the economy – is it better with you as a contributor?
A creditor voluntary arrangement was invented by HMRC and is a fair deal for people that like to play fair.
TaxGone - Company Voluntary Arrangement - CVA Specialists
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