Pre-Pack Administration #024

Published on 31 December 2010 by Tony Groom  Pre-pack Administration is a tool for saving struggling businesses that are in severe financial difficulties but are potentially sound. Essentially it means “selling” the business to a new company immediately upon appointment of an Administrator, the preparation for sale being carried out prior to appointment. The sale requires […]

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A Guide to Company Voluntary Arrangements (CVA) and When to Use Them #022

Published on 24 November 2011 by Tony Groom A Company Voluntary Arrangement (CVA) is a binding agreement between a company and those to whom it owes money (creditors). A CVA is based on a proposal that will include repayment terms. These should be affordable, realistic and manageable. While the proposed payment period can be much shorter, […]

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Working With Trades Unions to Promote Consensual Turnarounds #009

Published on 10 December 2010 by Tony Groom A Company Doctor and former President of the Turnaround Management Association, who seeks to save companies, and who does not work for banks, has approached a number of UK trades unions with a view to forging a collaborative approach to dealing with companies in financial difficulties. Currently, […]

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