An administration is a rescue procedure whereby an insolvency practitioner is appointed as the administrator of an insolvent company
When faced with a serious financial threat, our team of administration specialists work with the aim of helping the company to restructure, recover and eventually regain control over all its affairs. The main objective of administrations is to rescue the company so that it can continue trading as a going concern.
An administrator can be appointed by the directors, a secured charge holder or a creditor. Prior to an administration commencing, a notice of intention to appoint an administrator’ can be filed at court. This creates a moratorium for 10 business days and prevents creditors from taking action against the company. This can be a useful breathing space for a company, allowing negotiations with creditors to take place, options to be considered or for a sale of a business to be agreed.
Our team of administration specialists has significant experience in successfully delivering tailored solutions to businesses facing financial difficulties. We offer the full range of services and solutions that you would expect of a firm with such broad experience, including advisory assignments, informal and formal insolvency procedures.
We firmly believe in encouraging businesses and their professional advisers to seek guidance early on when problems arise in which could result in financial difficulties. The sooner advice is sought, the wider the range of solutions available. Our team understand that your business is your lifeblood and we are passionate about helping you overcome any challenges you face.
New clients will meet the team prior to appointment so we understand all of issues and concerns. As licensed insolvency practitioners, our team of administration specialists are able to manage the process for you and work towards improving the outcome for stakeholders.
