Quote:
Originally Posted by WillPS
I think the CVA proposal is a token gesture to pave the way for Administration. It could even end up being a 'pre-pack' Administration, where the sale of core assets are actually arranged in advance of the company going in to Administration. This happened in the case of La Senza, and meant that they didn't actually trade in administration at all.
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Not a very good gesture as going into a CVA requires an up front payment to the insolvency practitioner, which could otherwise be paid to the creditors.