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When would I use an old type CVA?

This question can be answered in the negative. If your business is not subject to an imminent threat such as:

• a winding up petition
• or the threat of receivership
• or the threat of distraint
• or a walking possession arrangement
• or repossession of goods by a financial company
• or landlords distraint

Then it is possible that an old type CVA may be sufficient to achieve the rescue of "your" company.

Directors who want "safety first" will, however, wish to apply for the newer type CVA to obtain the absolute protection of a moratorium.