If a company is in financial difficulty then Administration may be the route to save all or part of the trading entity.
Whilst Administration can be instigated by Directors and Shareholders it is often at the request of a debenture holder, usually a bank. This is an involved process that requires good communication between interested parties. That is a skill we can provide.
Primarily, we’ll see if the business can be turned around with some restructuring. If that’s not an option, we’ll try to sell the business as a whole and keep it running with new owners.
If we can’t achieve either of these aims, then we’ll sell the business assets and distribute the proceeds in accordance with Insolvency legislation.
In the day to day running of a Company, businesses are often overseen by individuals who are not legal directors registered at Companies House. In the Companies Act 2006, a shadow director, in relation to a Company, means a person in accordance with whose directions or instructions the directors of the Company are accustomed to […]
Ultimately, it depends! By reversing the question and exploring what position you would need to be in for your home to be at risk, a position is established by which you can consider your own position against. Do you owe money to the Company? As a shareholder and/or a director of a company it is […]