Client in CVA

[padgett]

Some advice please!

One have my clients has gone into CVA (without paying me obviously).

They are offering topay 21% of the debt.

I would rather determine the order for non-payment, as the by accepting the 21% I am also taking a load of risk for the work done against our PI, and frankly the 21% isn't worth it.

Can I do this? i.e are you allowed to determine for non-payment when CVA is on the table?

Thanks

[Smartie]

Is CVA the same as IVA?

If so, at a creditors meeting if 75% (by value) of creditors agree to the terms of the IVA then it is binding on all creditors. AFAIK you cannot take any legal action until the IVA is set up or fails.