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CVA question

Help and discussions for strategies to get out of debt
doone100
Posts: 35
Joined: November 4th, 2016, 4:50 pm

CVA question

#113932

Postby doone100 » January 29th, 2018, 10:48 am

Hi, It's been a while since I posted here but a question arose at work this morning and I thought that here would be the best place to post it.

A company entered into a CVA 24 months ago but did not include all its creditors. One of those creditors, being unaware of the CVA, offset a debt with new sales from the company that had the CVA. Was the creditor entitled to take the action to recover the debt or does a CVA bind all creditors regardless of whether they were included in the CVA or not.
Many thanks in advance

Doone

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