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[StevenJones]

what do you have to tell employees under a cva

[Graham Wilson]

Hello and thanks for your question.

If you are undertaking a CVA there is no obligation to tell your employees anything. One of the advantages of a CVA is that a cva is a private agreement between the company and its creditors.

Depending on the size of the organisation, the directors may wish to confide in certain key staff if they feel that this would be useful. However there is no obligation to do so.

[Derek Cooper]

Hi there Steven

Graham is correct, you do nto have to tell your employees that the company has gone into a CVA. However, depending on the size of the business and any publicity surrounding the arrangement, I would be inclined to tell your staff. I understand that there is a risk some may worry. However, better they find out directly from you rather than through the rumour mill.

[Steven Jackson]

Hi Steven

How many employees do you have? If your is a small firm I would be inclined to speak to everyone. However this becomes more difficult with a larger operation.