The CVA turns 40 this year – a powerful yet underused tool

Shaun Barton of BTG Begbies Traynor reflects on the CVA’s 40th anniversary, arguing that while it remains a powerful rescue tool for fundamentally viable businesses facing temporary financial distress, its narrow eligibility, creditor approval requirements, HMRC’s preferential status and competition from pre-pack administrations and restructuring plans have kept its use to a small fraction of corporate insolvencies.

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