Hi Trevor,
I know a little of CVA's and from sounds of it your former customer is blagging hard to avoid payment- as far as I know they must make you aware of the fact they are going down the CVA route, though they only need 75% of there creditors to agree to their proposal for it to be enforceable.
If you haven't received any notification that they were applying for it (and even then if it is genuine and other relevant parties were told in February) their failure to inform you would suggest you are on quite strong grounds legally as the beauty of a CVA is that with the company still trading through, any debts outside this agreement are still repayable. Though arguably they couldn’t have made a CVA without declaring monies owed to you to the auditors so this would lead me to believe its bogus claim in the first place.
Please don't take this as gospel but I spent many a bored hour in my youth studying law and accountancy so hope it helps- if I were you I’d get the ball rolling in terms of getting a court date set and then see how they respond, if it is a delaying tactic they should fold and if genuine their failure to inform you of the agreement should nullify it, so hopefully win win situation for you.
I'd be interested to hear how this pans out for you please keep me posted.
__________________
Visit www.c-p-ltd.com or give us a call and ask for Mark; IT supplies without the hassle
|