BusinessBusiness RecoveryPwC: Lawyers want more CVAs

PwC: Lawyers want more CVAs

PwC poll finds desire to avoid administration through CVAs is rising

Lawyers wants CVAs to be used more widely, according to a PwC poll.

Of 70 respondents, 85% believe CVAs have become more popular over the last
two years. More than half who have been involved in arranging them want them to
be used more often.

Mike Jervis, business recovery services partner, PwC, said: “These
alternative restructuring processes have become more widely accepted by a more
pragmatic creditor base given the increased financial pressure on companies and
the desire to avoid using administration.

“These arrangements are predicated on gaining more widespread consensus
amongst creditor classes but we believe that their use will increase. In periods
of uncertainty they have the attraction of allowing a wider group of
stakeholders, including shareholders, to keep their options more fully open.”

Further reading:

Pompey
administrator to go for CVA

Retail
faces CVA crunch

Administrators
unchallenged in Suits You CVA

Related Articles

PwC must face MF Global lawsuit over accounting advice

Accounting Firms PwC must face MF Global lawsuit over accounting advice

1y Richard Crump, Writer
PwC’s business recovery services team appoints four new partners

Accounting Firms PwC’s business recovery services team appoints four new partners

1y Richard Crump, Writer
MPs call on FRC to widen BHS audit probe into PwC

Accounting Firms MPs call on FRC to widen BHS audit probe into PwC

1y Richard Crump, Writer
FRC investigation launched into PwC's BHS audit

Audit FRC investigation launched into PwC's BHS audit

1y Kevin Reed, Writer
UK votes to leave EU – accountancy profession reacts

Accounting Firms UK votes to leave EU – accountancy profession reacts

1y Fraser Simpson, Reporter
Take part in our 'Seven days in Accountancy' quiz

Accounting Firms Take part in our 'Seven days in Accountancy' quiz

2y Fraser Simpson, Reporter
New consortium enters fray to buy BHS empire

Accounting Firms New consortium enters fray to buy BHS empire

2y Chris Warmoll, Writer
PwC questioned over BHS ‘going concern’ audit

Accounting Firms PwC questioned over BHS ‘going concern’ audit

2y Chris Warmoll, Writer