Whilst it can be a worry that existing creditors will vote against the proposals, it is often within the best interests of the creditors to work with the Company Voluntary Arrangement process rather than against it.  Creditors will ultimately want any debts owed to them to be paid back.  If the business is viable, it is likely that they will want to continue working with the company. They will be disappointed but by proposing a CVA the Directors are showing them that they are trying to maximise Creditors’ interests so it can often be viewed positively.