Restructuring A Company? We provide support and services for all the options you need to consider
Administration is a 'holding position.' which provides the company with immediate legal protection from its creditors. The objective is to devise a plan for the company resulting in a company restructure.
There are many outcomes. that can be achieved on the back of placing a company into administration; including:
- Company Voluntary Arrangement
- Creditors Voluntary Liquidation
- Sale of the business
- Refinancing the business or its assets
At the point of putting a business into administration, an insolvency practitioner is appointed as an administrator and takes active control of all further future steps for that business.
The company will be granted a moratorium. A moratorium halts any further legal proceedings being taken against the company at this time.
One of the benefits of placing a company into administration is that as a director and with either personal funds or investment, you can purchase the assets and goodwill of the business and transfer any future business to a newly set-up company, known as a Pre-pack Administration.
Why would you consider administration?
- Gives immediate protection from creditors
- Provides the director(s) with time to devise a plan of action to solve the business issues
In the event of a business not being saved or restructured, liquidating the company will then be considered.
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