The cost of Administration is relatively high compared to other company debt solutions. The process can involve the Administrator running the company for up to a year. The fees and expenses charged are relative to the size and nature of the company. They will also reflect the type and complexity of the work required. What […]
An important part of deciding whether Administration is right for your company is considering the Advantages and Disadvantages. Generally speaking these will be more or less relevant depending on the nature of the business. You will need to take expert advice before making the decision to put your company into Administration. Do you want help […]
The affect of Administration on employees will depend on what happens to the company. If all or part of the business is saved jobs will be preserved. In the event of closure jobs will be lost. If any part of the company is sold then employees are transfered to the new owner. Are jobs at […]
When an Administrator is appointed they take over the running of the company. The Directors are only allowed to act on instruction from the Administrator. Their fate depends on the proposals put forward by the Administrator and how these are implemented. Do Directors carry on working during Administration? Can Directors take on similar roles in […]
If you want to put your company into Administration there are a number of steps to go through. The process is normally initiated by directors. However it can also be started by the bank if they hold a qualifying floating charge over the company’s assets. How to put a company into Administration Who appoints the […]
Administration can be used if a company is insolvent and unable to pay its debts. There must be a belief that the business can be rescued with appropriate restructuring. The solution provides a breathing space from creditor. Is Administration suitable for your company? Can Administration stop a Winding Up Petition? Implications for Directors must be […]
How can Administration help a struggling company? What happens to the company debts? How is the company credit rating affected?
Administration is a legal umbrella which gives a company a breathing space from its creditors. It provides a moratorium on insolvency and other legal proceedings. It is used to buy time so that a suitable recovery or restructuring package can be formulated and implemented. Find out if Administration is right for your company How to implement Administration […]
Is Administration a sensible rescue option for a small to medium sized company? How are sales and supply contracts affected? What happens to Directors?