"Disadvantages
The companys credit rating is affected. A CVA adversely affects the companys credit rating, making it harder to obtain credit from new suppliers, and potentially more difficult to renegotiate terms on existing contracts. This means that accessing credit, whether from a bank or from a supplier, becomes significantly more difficult for your company and can make cash flow an issue."
www.griffins.net/services/insolvency/...luntary-arrangements/
"If your company has a viable path towards recovery and can repay most of its debts through a CVA, creditors will generally be understanding. However, entering into a CVA can and often will affect your company’s credit terms with its creditors."
"Will our business lose access to credit after the CVA period?
Entering into a CVA will negatively affect your company’s credit rating, but it doesn’t mean your company can never use credit again. If your company returns to a strong financial position it will be able to work out credit terms with suppliers."
www.cva.co.uk/cva/frequently-asked-questions/
Ich habe mir mal mehrere Seiten über CVAs reingezogen und viele sagen das Gleiche-nach dem CVA werden einige Schulden gestrichen. So auch im zweiten Link. Da steht folgendes:
"What happens to our business once the CVA is over?
Once your company completes its CVA, it can continue trading as normal without its previous debts. If your company complied with the terms of its CVA and made all of its payments to creditors, its remaining unsecured debts will be written off."
Keine Ahnung in wie fern das alles auf Steinhoff zutrifft und ob es überhaupt noch unbesicherte Kredite gibt, aber evtl. gibts am Ende nen haircut.
Dieses Setting würde im Hinblick auf die kräftigen PIK-Zinsen auch Sinn machen. Sprich man zahlt in den 3 Jahren so viel wie geht und am Ende wird ein Teil gestrichen.
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