A CVA or PVA is an arrangement taking the form of a proposal between a company and its creditors in satisfaction of some or all of its liabilities.
An Administration is where a Licenced Insolvency Practitioner is appointed as Administrator of a company to manage its affairs, business and property.
Members’ Voluntary Liquidations are a solvent means of closing down a company which has come to the end of its useful life.
A Creditors' Voluntary Liquidation (CVL) is a terminal insolvency procedure whereby the directors of a company instruct a Licenced Insolvency Practitioner to act as liquidator to wind up the company’s affairs.
The company, its creditors, shareholders or directors can issue a winding up petition in court for a company to be wound up in respect of an unpaid debt.