Partnership Voluntary Arrangement (PVA)

A legally binding agreement between a partnership and its creditors to repay some or all of its debt over a period of time. It is a solution for partnerships who are struggling to pay their debts. It is designed to allow the partnership to continue trading and repay its historic debts out of future profitis. It avoids the consequences of winding up the partnership and will typically last for up to 5 years. Individual Voluntary Arrangements may also be needed for the partners. Contact us for more details.