May 8th 2017
A pre-pack administration facilitates the quick sale of a business in insolvency. Negotiations for the sale of underlying business assets take place prior to an Administrator being appointed, after wh…
April 14th 2017
A Company Voluntary Arrangement (CVA) provides a way for companies in distress to pay off their debts over a fixed period of time, and offers the opportunity to address issues surrounding management …
Statement of Insolvency Practice (SIP) 16 will be introduced on 1st November 2015, and provides detailed guidance for insolvency practitioners involved in a pre pack administration process. Pre pa…
The administration process was designed to protect a company from creditor pressure whilst a plan for rescue or restructure is put in place. One of the exit routes from administration is the sale of a…
A phoenix company describes a business that has been purchased out a formal insolvency process such as administration or liquidation, often by the existing directors. The term refers to a phoenix r…
If your company has entered administration, you’re probably wondering about the rights of your employees and your liability for any outstanding monies owed to them. Once you have the input of a prof…
A Company Voluntary Arrangement, or CVA, provides an exit from administration that repays a proportion of debts and halts creditor action against you. It could be an option if your company is deemed …
The Transfer of Undertakings (Protection of Employment) regulations are intended to protect employee rights when a failing company is sold on. A pre pack administration is the term used when the unde…
A Company Voluntary Arrangement, or CVA, is a common solution for struggling, but fundamentally viable companies, that allows directors the opportunity to trade their way out of debt. It is an appeali…
Company administration gives provision for unsecured creditors to have certain rights in a process many assume is going to result in little recompense. Their right to form a committee gives unsecured …
Under the Insolvency Act, 1986, an administrator has specific duties and responsibilities to creditors, and in the first instance will take control of the company with a view to business rescue. They …
If your business is experiencing financial problems and you fear that creditor action will force you into liquidation, it may be reassuring to know that there are rescue options available. Unfortunate…
When a company is struggling to pay its debts and faces increasingly aggressive threats of legal action from creditors, company administration can provide a ‘safe haven’ in which to formulate a re…
July 31st 2017
Company administration is often seen as the end for a business, but it is in fact, a procedure that allows for its restructure or sale as a going concern. Initially, the main advantage of entering adm…
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