Partnership Voluntary Arrangement

If you’re owed money by a business partnership, a Partnership Voluntary Agreement is another way of accessing the money that’s owed to you.

In a Partnership Voluntary Arrangement (PVA), a proposal will be made to you that allows the partnership to continue trading so that it can repay you from its current assets and future profits.

Unlike an Individual Voluntary Agreement, a PVA does not provide the partnership with protection if you are absolutely determined to pursue your claims against them in the period before the creditors meeting that must be called under the PVA.

If you choose to formally enforce your claims against the business – and if the partners have personal assets and liabilities – they may have to enter into Individual Voluntary Arrangements, which will run concurrently with the PVA.