BPF calls for CVA review
In an article published by Shopping Centre the following has been reported;
Following the House of Fraser CVA (company voluntary arrangement) and the collapse of Poundworld and Fabb Sofas into administration, the British Property Federation has called on government to conduct an urgent review.
The property industry body believes the CVA process is now being mis-used, and it highlights a number of faults in the current system including:
- Lack of transparency
- Unfair discrimination between different creditors
- The lack of regulation to ensure CVAs are used appropriately and to drive good practice
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