If your company is approaching insolvency, you may be wondering if voluntary liquidation is a possibility. Perhaps if you do not act quickly a secured or unsecured creditor could take the future of the company out of your control, at the same time exposing you and other directors to accusations of wrongful trading?

A Company Voluntary Arrangement (CVA) provides a way for companies in distress to pay off their debts over a fixed period of time, and offers the opportunity to address issues surrounding management and operational systems that were not working.

If your business is struggling to stay afloat and meet creditor demands, you may find that unlicensed insolvency advisers will claim to have all the answers to your questions.

However, only licensed insolvency practitioners are legally able to take insolvency appointments and manage corporate insolvency procedures from beginning to end.

In contrast, unlicensed insolvency advisers are only able to look at your circumstances and determine which third-party service providers might be best placed to deliver practical solutions to your problems.