Corporation Voluntary Arrangements (CVAs) are one of the Insolvency Act’s business rescue procedures. A bit like Chapter 11 in the US, they are intended to provide a flexible path of restructuring a troubled business which will lead to a bigger outcome for creditors than other insolvency procedures, while allowing management to retrain control and shareholders to retain ownership. This article looks at the pros and cons of this approach. More information: click to read full article…