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What is Partnership Voluntary Arrangement?
A Partnership Voluntary Arrangement (PVA) is a formal insolvency option and offers great flexibility to suit the specific circumstances of the partners.
How does Partnership Voluntary Arrangement work?
Partnership Voluntary Arrangements are especially useful for individual in industries of professions which cannot practice if they are declared bankrupt.
The purpose of a PVA is to provide a partnership’s creditors with a higher return than would be possible if the partnership was wound-up.
