Quote:
Originally Posted by RichardCoulter
Have they gone bust?
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If they are proposing a CVA they would certainly have a liquidity problem. A CVA usually involves staged repayments to creditors over a period of time, say 6 years. It isn't particularly attractive to offer 1% repayments to their creditors over a 6 year period, they would be lucky to get the approval of 75% of their creditors. It's also worth noting that, even if approved by the creditors, many CVAs fail within the repayment period.