There are three entry routes into administration:
1. By an order of
2. Appointment by a qualifying Floating Charge holder; or
3. Appointment by the company or its directors
Administration creates a moratorium which
The company is placed under the day-to-day control and management of an administrator and may continue to trade (if applicable and supported) whilst the administrator reviews the company’s position and collates information.
An Administrator must act in the interests of all the creditors and must perform his functions with the objective of rescuing the company as a going concern. If this proves impossible he must achieve a better result for the company’s creditors as a whole than would be likely if the company were wound up. Failing that the administrator may realise property in order to make a distribution to one or more secured or preferential creditors.
Common routes out of administration are
To find out more or to arrange a free consultation without any obligation please contact:
Restructuring and insolvency
We believe that in working closely with you and your professional advisers we can help you understand all formal and informal options available and provide the guidance and information necessary to assist in choosing the most appropriate solution.
Creditor Services is an integral part of the Business Recovery & Insolvency department. Building on the foundations of the technical knowledge and experience within the team, our Creditor Services division provides advice and support to individuals, company directors and professional advisors where they or their clients are impacted by the insolvency of another party eg. a customer, supplier, employee etc.