Administration Solicitors with a wealth of experience In Manchester And London, UK
Here at Monarch solicitors, our team pride ourselves in offering industry leading Insolvency advice. With a wealth of experience assisting clients big and small, we’re on hand to help reach the best solution for you.
At Monarch, we can assist with all thing’s insolvency, including:
- Negotiating a CVA (Company Voluntary Arrangement), where creditors are repaid via a fixed period whilst your company continues to trade.
- Listing the business as a ‘going concern’ to be sold to another company.
- Entering into voluntary liquidation. This is where Company assets are sold off to repay creditors and your company is then closed.
- The closure of the company, whereby the business holds no assets to be sold.
What is Administration?
When a company is having difficulties repaying its debts and they are incapable of coming to an agreement with their creditors, an administrator will need to be appointed. The administrator will aim to prevent the company from ceasing to trade.
Once an administrator is appointed, the companies house and any creditors will be notified and a moratorium will be put into place to prevent creditors from taking hostile action against the company.
What are the advantages?
There are some advantages of undergoing company administration as an alternative to voluntary or compulsory liquidation, such as, the ability to prevent further action being taken by creditors via a moratorium.
It can become an unmanageable situation for a company when creditors are trying to reclaim the debt they are owed immediately, threatening your company with being wound up.
Companies are temporarily able to curtail the power of creditors and delay the risk of liquidation whilst the necessary steps are taken in order to reach the optimum outcome for the business.
Contact Our Insolvency Solicitors
If you would like to enquire about any matters relating to insolvency, please complete our online contact form here or send an email to us at [email protected] and one of our solicitors shall call you back. Alternatively, please call our insolvency solicitors on 0330 127 8888 for a no obligation discussion.
Call us for a free initial consultation
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