Gaby Hardwicke’s corporate law specialists often advise businesses on matters pertaining to administration. When a company enters administration an insolvency practitioner takes control of its affairs in order to either rescue the company (so that normal trading can resume), achieve a better result for the company’s creditors or to sell the company’s property so funds can be allocated to its creditors.
Unfortunately the process of administration can be confusing and is generally not well understood. For this reason Gaby Hardwicke Partner Mark Williams has compiled a guide to the key issues surrounding the topic.
Our Administration Briefing Note outlines the administration process and includes information on asset sales, pre-pack administration, time limits for administration and the role and duties of the administrator. It also explains the impact of administration on a creditor company and what to do if your business is owed money by a company in administration, as well as what action your company can take if your company is in dispute with the administrator.
Read our Briefing Note closely but please bear in mind that it is intended as an introductory guide only, so should not be relied on as legal advice.
For advice specific to your business and circumstances email Mark Williams or call him on 01323 435 900.
Posted: 30 May 2012