Home | Back | Email us | Freephone 0800 783 8253

Rescue Company Procedures

Administration

This is a constructive process of trying to save a company. It is designed to hold a business together while rescue plans are drawn up Application for this procedure is made through the High Court and on the application being made it gives immediate protection to the company from all its creditors including hire purchase and lease creditors. In other words, all the company's assets are protected to enable a plan of action to be put in place.

Company voluntary arrangement

This procedure allows a limited company to negotiate an arrangement with its creditors by which the creditors agree to a repayment of an agreed amount, paid back over a period of 1-5 years, in full and final settlement. When the proposal takes effect it binds all creditors who had notice and were entitled to vote at the original meeting. It enables:- Possible survival of the company as a going concern Job saving Creditors to receive payment, albeit reduced No credit restrictions

Winding-Up Company Procedures Receivership Liquidation

Back to top

Call Now on Freephone 0800 783 8253 to talk to us in confidence