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Administration Leeds

Company Administration is a simple and effective procedure aimed at business recovery by protecting them from their creditors whilst a restructuring plan is developed.

An insolvency practitioner is appointed as Company Administrator and will manage the company’s affairs, business and assets for the benefit of creditors.

An Administrator is an appointment made either by:

  • the company or its directors;
  • the holder of a floating charge e.g. a bank or finance provider;
  • order of the court.

The Administrator has the primary goal to:

  1. Rescue the company as a going concern.

Or to

     2. Achieve a better result for the companys' creditors than if the company were to be wound up.

If neither of these goals were to be achieved

3.   Realise property in order to make a distribution to one or more secured creditors.

Creditor protection

Administration has the benefit of a stay against legal proceedings being started or continued against a company.

Option to buy-back the company assets (Pre-pack administration)

A pre-packaged sale of the business and assets as a going concern would be possible should a purchaser (including the companys' directors) be identified in advance of entering into administration.

A sale contract would be agreed prior to the administration and would be completed by the Administrators, immediately upon their appointment.

The Administrators have a duty to maximise the return to creditors and would need to be satisfied that the pre-packaged sale represented the best, or indeed only, deal available to them. We are able to use our transaction support team to provide valuation advice.

Jennisons are also able to provide assistance in providing sources of funding for the new business and making the necessary introductions to ensure a smooth transition.

To speak to one of specialist team members, please call us now on 0800 107 8788.

Apply Now - Please call us for a no obligation discussion on 0800 107 8788

Business Recovery Services

Jennison Insolvency can make a difference. We provide practical insolvency advice to pressure arising from:

  • The bank and/or other lenders
  • Creditors
  • HMR&C
  • Cash flow difficulties
  • Winding up petitions
  • Customers
  • Employees

Don't delay, we can help you to find a solution

Call us now for free advice

0800 107 8788