Corporate Administration is an alternative name for the administration process that can apply to a company or a partnership. By far the majority of Administration Orders that are granted by the courts are made in favour of companies. Indeed the last few years has seen a massive rise in the use of this insolvency procedure, since government gave a signal that it wished to see a rescue culture in the UK as opposed to one which buried a business.
For this reason a corporate administration can be used to buy the administrator time whilst he looks to see what the best solution would be for the company in question.
When we look at a Corporate Administration we look to see if, by doing it, we would provide a better return for creditors than would be the case if the company simply went into liquidation. In most cases this would be the case as a pre-administration sale or a pre-pack will generate a better price than one in a liquidation, when any goodwill and ongoing business has been lost. We will look to see if it is possible to do a Corporate Administration, or CVA, where the company continues to trade, with its old debts ring fenced, and regular monthly contributions made to satisfy those old debtors.
Finally we look to see if there is any other reason why a corporate administration might work. In the current recession, the news reports are full of high street brands going into administration, and this is because they can continue to trade this way, whilst giving potential suitors the opportunity to price up the value of the business before making an offer. We will be able to tell you if your situation is right for a corporate administration, so please contact us now for a free consultation.
If you would like to talk about a corporate administration in London to a specialist with many years corporate insolvency experience then enter your details into the web form below for a no-obligation chat.
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