How to Place Your Company into Administration
We provide assistance to help company directors mitigate personal liability claims in Administration.
Call 0207 504 1300 now to place your company into Administration
What is Administration?
Administration is a rescue mechanism for asset-rich but insolvent companies. Usually, Administration is a precursor or alternative to liquidation. The procedure allows a company to be:
- Rescued as a going concern
- Sold as whole
- Offloaded in parts to realise cash for creditors.
Administration provides protection from creditors who are threatening legal action. However, you (the director) must concede full control of the company's management and future to the Administrator.
Following an application to court for an Administration Order, there are 3 ways a company can be placed into Administration:
- In court
- Out of court
- If a charge holder (creditor) invites an Administrator (insolvency practitioner / IP) to act as interim chief executive with custodial responsibility for the company's obligations and assets.
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Administration is a complex issue and you will need expert advice and support. I&L can help directors protect themselves from personal liability claims. Call 020 7504 1300 now for free and confidential advice…