COMPANY ADMINISTRATION

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Company Insolvency Advice is well versed with assisting company directors across all industry sectors – Get the help and support you need by contacting us on either 0800 999 0666 or alternatively via email or schedule a meeting through our contact us page.

WHAT IS A COMPANY ADMINISTRATION ORDER?

An Administration Order is a court order that stops anyone taking legal or enforcement action against your company, whilst a way forward is agreed. An Administration Order can be obtained very quickly, so protection from aggressive creditors helps the business and does not shut it down. The Order has to be made by a court but even the application for the Administration Order is enough to get the legal protection to stop creditor’s actions.

“We are specialists in giving Company Administration Order advice. Call us on 0800 999 0666 for free to discuss your company’s financial position in complete confidence.”

HOW DOES AN ADMINISTRATION ORDER WORK?

The key to a successful Administration is a better return to creditors and lenders. At the start, you will need to go through your company’s affairs with an insolvency specialist – such as Company Insolvency Advice – to look at all the issues you have and discuss the alternative methods of solving them.

Assuming Administration is the best route, then a court application is made and immediate protection is granted. This stops any legal action against your company and lets you work with the proposed Administrator to find the best route forward.

A Company Administration must achieve one of the following:
  • Rescue the company as a going concern.
  • Achieve a better result than the company being wound-up.
  • To realise the value of the property to make a distribution to one or more secured, or preferential creditors.

We go through the alternatives and work together to get the right one.

Once the Administration Order has been made, proposals need to be generated and the Administrator’s proposals are sent to all of the company’s creditors. When the proposals have been approved, the administration will run its course.

This could include:
  • Sale of some or all of the assets.
  • Disposal or surrender of onerous liabilities and leases.
  • Transfer of ongoing contracts.
  • Business and operational transfers to a new company.

ADVANTAGES OF ADMINISTRATION

 

  • Immediately stops action from creditors.
  • Gives time to work out a solution.
  • May result in the company continuing.
  • Gives a better return to creditors.
  • Allows some contracts to continue.
  • Can be done very quickly.
  • Allows jobs to be protected.
“We can help you with your decision by looking in detail as to the best way to get the company’s problems resolved. We’ve been doing this work for years.”

HOW DOES A COMPANY ADMINISTRATION HELP YOU?

  • If you have pressing creditors and are unable to pay them?
  • If you have been issued with a Winding-Up Petition?
  • If your landlord is threatening to distrain and this would put an end to your business?

The above are some instances where the speed of obtaining an Administration Order could be vital to your business.
An Administration is very bespoke to your company’s needs and doesn’t have to mean the end of the company.

We understand company problems and want to assist you to make sure the same issues do not arise again. If funding is the issue, we have excellent relationships with lenders who help refinance or offer alternatives to the mainstream bankers.

SO WHAT SHOULD YOU DO NEXT?

If you think that Administration could be the answer to your company’s problems, then contact Company Insolvency Advice today to discuss the company options available to you. We will need to hold consultations either face to face or remotely, to discuss all options and look at the structure of the current business. There may be alternatives to Administration and with our experience we will present these options to you. We know it is your company and any major change is a big step. All our staff understand these difficult situations and will advise on the best course of action moving forward.

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