Skip links

0333 009 6861

CVA Assessment

Why Choose Us?

COVID-19 SUPPORT: IF YOU HAVE BEEN AFFECTED BY COVID-19 WE HAVE SUPPORT PROCEDURES IN PLACE

Our team of Business Rescue experts are here to assist you

Fast Track CVA comprises a partner-led team based primarily in Leeds with 70+ offices across the UK. When it comes to rescuing businesses through innovative and efficient solutions, our experience and expertise is unrivalled.

We specialise in helping small to medium-sized enterprises where the business itself is viable but the mounting pressure from creditors, HMRC, or other overheads is causing distress. If left unchecked, that distress could ultimately force the company into insolvency and subsequent closure.

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

Retail

Technology

Hospitality

Construction

Financial Services

Experts in Rescuing Businesses

If your business is facing financial challenges, we’re here to assist you and face those challenges head-on in order to secure the future of your business going forward. We’re committed to providing a prompt and responsive service by placing an expert in front of you at the earliest opportunity in order to assess your position and ensure you have as many options to consider as possible. The more options you have available the better the chances of a successful rescue.

Following the outbreak of COVID-19 in 2020, we understand the turmoil faced by thousands of businesses across the UK. Cash flow pressures are widespread but help is at hand. Many directors choose the wrong options such as trying to use their own funds to keep the business afloat or ignoring the warning signs altogether. Our experience guarantees one thing and that’s that early advice is absolutely critical in securing the best outcome for your business – so contact us today for a free no-obligation consultation on how we can steer your business out of the red and back into the black.

Contact Us Take the Assessment