How is a CVA (Company Voluntary Arrangement) approved?
Your creditors vote on whether or not to approve the CVA (Company Voluntary Arrangement). If 75% or more (in value) of those who vote approve the proposal, it goes through and you can start rebuilding your company. If your creditors don’t initially vote in favour, don’t worry, we will adjourn the meeting for 14 days and work with you to understand why creditors are rejecting it and work with you and them to try to agree a cmpromise. If this is still unsuccessful, you may have to look at another Solution such as Liquidation or Administration, but don’t worry we will continue to work with you to achieve the best outcome.