The nuclear option
- Are creditors threatening to wind up your company?
- Is it experiencing severe cash flow difficulties?
- Could the business of the company survive if it was sold without suffering disruption?
- Is the business viable?
We can assist you either in your capacity as a director of a company or a creditor with a floating charge debenture put a company into Administration.
This is a Court driven process that ensures the trading operations and assets of the company are protected. Once an Administration order is in place no legal action can be commenced or continued against the company without the consent of the Administrator.
This gives the company the necessary breathing space so that it can continuing trading whilst in Administration to allow its operations to be restructured. Depending on the viability of the underlying business it can then be sold on a going concern basis or alternatively a Company Voluntary Arrangement be implemented so that the company can be returned to solvency.