Company Rescue Services
Company Administration
A formal insolvency process with the aim of rescuing viable elements of your business.
"I have an ongoing relationship with Gareth & Kate regarding my company and my experience with them has been great. They evaluated my situation and offered me a tailored solution that in line with my circumstances where all other companies tried to sell me their products via scaremongering.
I am very grateful for The Insolvency Company for making the unpleasant experience I am going through as smooth as it possible can.
"
– Director of a limited company
Who is Company Administration for?
If your business is being threatened by creditors such as your landlord, HMRC, loan companies or your bank and there is a serious risk of being taken to court.
An administration order could protect your company.
It is possible to file a Notice of Intent to Appoint an Administrator, this protects the company from actions against your company whilst available options are explored.
If the company has few assets and cash flow is restricted, then a creditors’ voluntary liquidation (CVL) may be a more suitable solution.
If creditors are not yet threatening legal action but you’re concerned that they may start soon then a company voluntary arrangement (CVA) could be the ideal option.
We can help you decide, call now for your free business options analysis
We can help you decide, call now for your free business options analysis
Benefits of a Company Administration
One of the main benefits of company administration is that a moratorium is placed around the company. This means that the company is protected from legal actions by creditors, including the issuing of a winding up petition during the period of the moratorium. This gives you time to consider your options for the future.
The creditors financial position will not worsen during this time and a clear picture of the company’s finances and options for the future can be gained. So that you can decide on the best next step for the business and an exit out of administration can be planned.
A licensed insolvency practitioner will act as the administrator, therefore all actions moving forward will be in the best interests of the creditors and the company.
How does a Company Administration work?
- A new company will purchase the assets that it wants from the administrator
- The new company can be connected by way of key persons
- These assets may include contracts or WIP and other intellectual property
- It is likely that certain asset values will be maximised as a result of a new Company continuing with the contracts (such as book debt realisations and retentions)
- The sale will usually happen on the date of the administration appointment
- Employees are usually transferred to the new company
- The new company can acquire the company name from the administrator
- HP assets/liabilities may be transferred to the new company as part of the sale agreement
- A pre-pack is useful to promote entrepreneurism and the law has been changed to allow this
"Friendly, Professional and Decisive advice.
Highly Recommended."
– Peri Johnson
