Insolvency Glossary
Get a Quote!Company Voluntary Arrangement or CVA
A Company Voluntary Arrangement (CVA) is the principal alternative to liquidation. The company voluntary arrangement is a formal arrangement with the company’s creditors typically being paid over a 5 year period, repaying a fixed amount which is lower than the actual outstanding debt, which allows a business to continue to trade whilst repaying its debts at an agreed rate.
CVL
CVL is short for "Creditor's Voluntary Liquidation".
Insolvency Direct
Direct about insolvency, Direct about your insolvency options, Direct about Fees. The only place to liquidate your company online.
Limited Company
In the UK a limited company is a company with limited liability amongst its owners. Therefore the company's shareholders are not liable for more than their investment in the event of insolvency proceedings such as liquidation or administration.
Liquidation
When a company is solvent, it is controlled by the Directors. When a company is insolvent, the Directors can place the company in the hands of a Liquidator, who then deals with the Liquidation. The Directors duties and powers cease, and they can move on to new opportunities, (having learned a few hard lessons along the way).