CVA Weeks Away - Ipswich Town News
Town chief executive Derek Bowden says that the club and Deloitte and Touche are still weeks away from completing a Company Voluntary Agreement (CVA) to put to creditors.
Bowden says that the CVA will be based on a number of plans based on several scenarios. He says that the CVA is going well but taking time: "We have been working as speedily as possible and talks have been positive and constructive.
"But there are a large number of parties involved and talks have ebbed and flowed. We are still some way off agreement and it will be a matter of weeks rather than days before everything is concluded."
Once complete the CVA will be put to creditors. To be accepted it requires the votes of 75% of the creditors by value.
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