In: ufaq

What benefits are there to my Company if it obtains a Moratorium?
July 3, 2020

The Company will benefit in a number of ways. The Company will receive a payment holiday from certain pre-moratorium debts which…

Read More
What happens if the Monitor decides that the Moratorium is no longer viable?
July 3, 2020

The Monitor is obliged to end the moratorium in certain circumstances. For example, if the Company fails to pay certain debts…

Read More
How long does the Moratorium last?
July 3, 2020

The moratorium automatically ends 20 business days from the day after the moratorium comes into force.  This can however be extended…

Read More
How can my Company be saved using the Moratorium process?
July 3, 2020

There are a number of routes available such as a CVA, restructuring or a refinance. There is no requirement to specify…

Read More
How do I appoint a Monitor over my Company?
July 3, 2020

The Moratorium commences when certain documents are filed at court by the Company and the Monitor. The Monitor will also be…

Read More
Is my Company eligible?
July 3, 2020

Yes, unless specifically excluded. For instance, banks and other regulated entities can’t appoint a Monitor. In addition, if your Company is…

Read More
Will the business lose access to credit after the CVA period?
July 3, 2020

Entering into a CVA will negatively affect the company’s credit rating, but it doesn’t mean the company can never use credit…

Read More
What happens to the business once the CVA is over?
July 3, 2020

Once a company completes its CVA, it can continue trading as normal without its previous debts. If the company complied with…

Read More
We have big tax losses – will they be lost in a CVA?
July 3, 2020

No. they can be used in future providing they are recognised losses.

Read More
What happens to Personal Guarantees (PG’s) in a CVA?
July 3, 2020

These are guarantees that cannot be removed until the debt is paid off. The longer term repayment to secured creditors should…

Read More