Corporate Debt
Adminstration

Adminstration

Administration is a procedure which places the company under the control of an Insolvency Practitioner and provides protection from ongoing or future legal proceedings.

To enter administration the company must be insolvent or likely to become insolvent and it must do so to achieve one of the following objectives:

  • Rescuing the company as a going concern
  • Achieving a better result for the creditors as a whole than would be likely if the company were wound up without first being in administration
  • Realising property in order to make a distribution to secured or preferential creditors

An administrator may be appointed by a secured creditor, an order of the court or by the Directors.  Once appointed the Administrator has very broad powers which include the power to carry on the company's business and to realise the company's assets.

To discuss Administration and the alternatives please book a free, confidential, no obligation meeting by calling one of our experts at Currie Young on 01782 394500

01782 394500