The company’s proposal was duly submitted and approved. A lump sum of circa £40k was remitted to the Supervisor in line with the approved terms, and this strategy meant that the CVA was concluded within 6 months, and yielded a higher return to creditors’ than if the terms had provided for monthly contributions.
There were no other assets to be realised, and the Supervisor made a first and final distribution to the unsecured creditors’ of approximately 20 pence in every £. The company has returned to profitability and its business was preserved.
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