Skip links

The Fast Track CVA Process


Understanding the timeline of a Company Voluntary Arrangement

A CVA is a powerful mechanism used by struggling but viable businesses to repay debt over an extended period of time without creditor pressure. An appointed insolvency practitioner (IP) negotiates with the company’s creditors over the proportion of debt that will be repaid, and the remainder is written off at the end of the term.

In order to enter this process you need to consult a licensed insolvency practitioner initially, to ensure that your company meets the criteria and that a CVA is the most appropriate route to take.

Get Started Today

The Fast Track CVA Process

A ‘standard’ CVA process takes around six to eight weeks on average to come into force, but a fast track CVA is quicker – ideal for agile smaller businesses that are more able to readapt and readjust.

Here’s how the CVA process typically works:

1. Initial Advice from an IP

If your business is experiencing cash flow difficulties from a small number of creditors, get a free consultation from one of our licensed Insolvency Practitioners.

2. Formal appointment of an IP

Prior to the formal acceptance of the CVA, the licensed IP has a duty to report on the contents of the proposal including whether they think the CVA has a reasonable prospect of being implemented.

3. Proposal made to creditors

The proposal is lodged at court and then distributed to unsecured creditors. Creditors have the right to vote on whether or not to accept the CVA, at a special meeting convened by the IP.

4. Creditors meeting and vote

At the meeting of creditors, a majority of more than 75% of those voting in favour is required for the Proposal to be approved.

5. Implementation of the fast track CVA

The CVA is approved once it’s been sanctioned in the creditors’ votes. The IP (Nominee) receives the monthly repayments from the company, and distributes them to creditors according to the agreement.

6. Exiting the Fast Track CVA

The CVA ends after just six weeks. Payments that are due to creditors (which have been discussed and agreed during the CVA process) will continue over a prolonged period of time to allow for business stability.

Sectors using Fast Track CVA





Financial Services

Timeline of a CVA

The timeline of a Company Voluntary Arrangement is usually around six to eight weeks, but a fast track CVA is a little quicker. The agreement itself typically lasts between two and five years, but the insolvency practitioner reviews the situation every year to check whether the company’s circumstances have altered.

Once the agreement has been completed and all payments made with no outstanding issues, HMRC provides confirmation that the company’s liabilities under the CVA have been met. A certificate of completion also formalises the fact that any remaining debt will be written off.

If you would like more information on the CVA process and timeline, and whether a fast track CVA is right for your company, please contact one of the team at Fast Track CVA. We can offer you a free same-day consultation to quickly establish your situation.

Get Started Today Take the Assessment