How quickly can you do it?
From three to four weeks
It takes time to put CVA proposals together.
The supervisor needs a lot of information from the directors to be able to produce the draft proposals on their behalf.
The more proactive the directors are, the quicker the IP can produce the CVA.
Once the CVA proposal has been completed and approved by the directors they are sent to the court.
The court franks them with a CVA number and returns them.
The creditors can then be sent a copy and a creditors meeting can be called to vote upon the proposals.
Creditors have to be given minimum of 14 days notice of the meeting.
The meeting can then be adjourned for up to a further 14 days (if more time is needed for example to consider any modifications put forward).