Initial CVA hurdles to overcome

We were approached to fund the purchase of a tenanted industrial unit in Gosport.

The borrower was purchasing the property from a connected company as part of an internal corporate restructure. The connected selling company had a CVA registered at Companies House, we managed to work with the clients solicitors to obtain confirmation from the Insolvency Practitioner that the CVA had been completed and that the IP had no further involvement in the affairs of the selling company.

This enabled us to complete, allowing the client to continue to operate under the NewCo.