Partnership voluntary arrangement
In a partnership voluntary arrangement (PVA), partners can make a proposal to their creditors which may allow continued trading so that they can repay them from assets and future profits. It is similar to a company voluntary arrangement.
At Frost Group, we can assess your partnership’s profit potential. If it’s healthy, we’ll work with you to prepare a proposal for the creditors.
We will aim to satisfy creditors and relieve your immediate financial burdens; leaving you to get back to business.
If creditors insist on enforcing their claims – and if your partners have personal assets and liabilities – you might want to consider protecting your estates with an IVA to run concurrently with the PVA. Frost Group can advise on this - call us on 0845 260 0101 to find out more.