We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Is debt owing to us subject to a CVA or not?
BusinessEnergyBroker
Posts: 79 Forumite
Hi Guys,
I have an issue where we have been carrying out work on behalf of a client over a number of months (we are utility troubleshooters) and the clients company is going into a CVA.
The problem that we have is that our invoice (for services) was raised around 10 days after the CVA cut off point in September because we hadn't concluded dealing with the issues at the cut off point.
The company representing our client regarding the CVA has stated that because we carried out much of our investigation (re the problems with an electricity account) that our invoice which is dated after their cut off point will be subject to the CVA and payable at the reduced amount of 39p in the pound which is to be paid over a 3 year period.
To be honest I have no idea if they are trying to pull a fast one here. I have my accountant checking this out but any advice from people on here would be useful.
Many thanks.
I have an issue where we have been carrying out work on behalf of a client over a number of months (we are utility troubleshooters) and the clients company is going into a CVA.
The problem that we have is that our invoice (for services) was raised around 10 days after the CVA cut off point in September because we hadn't concluded dealing with the issues at the cut off point.
The company representing our client regarding the CVA has stated that because we carried out much of our investigation (re the problems with an electricity account) that our invoice which is dated after their cut off point will be subject to the CVA and payable at the reduced amount of 39p in the pound which is to be paid over a 3 year period.
To be honest I have no idea if they are trying to pull a fast one here. I have my accountant checking this out but any advice from people on here would be useful.
Many thanks.
0
Comments
-
Hi BEB, I'm sorry I don't know anything about CVA (Company Voluntary Arrangement). But I would ring Business Debt line as I'm sure they would be able to help you.
Business Debt line - Click here
Best wishes
If...x"If wishes were horses, then beggars would ride"
0 -
CVA's are not my expert area but in general in insolvency proceedings a debt is normally incurred when application contracr is signed or goods or services provided rather then when the invoice is raisedHi, im Debtinfo, i am an ex insolvency examiner and over the years have personally dealt with thousands of bankruptcy cases.
Please note that any views i put forth are not those of my former employer The Insolvency Service and do not constitute professional advice, you should always seek professional advice before entering insolvency proceedings.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.5K Banking & Borrowing
- 254.1K Reduce Debt & Boost Income
- 455K Spending & Discounts
- 246.5K Work, Benefits & Business
- 602.9K Mortgages, Homes & Bills
- 178K Life & Family
- 260.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards