Rescue Options
Advantages & Disadvantages of a Pre-Pack Administration
A Begbies Traynor feature analysing the pros and cons of the restructuring solution, pre-pack administration - often described as a 'phoenix' procedure.
What happens to a business when it is sold out of administration?
The administration process was designed to protect a company from creditor pressure whilst a plan for rescue or restructure is put in place.
What duties does an administrator have to creditors during administration?
An administrator is duty-bound to act in the best interests of creditors during an insolvency procedure and help them recover monies owed
What happens when a company goes into administration?
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.
What does it mean when a company is a going concern?
What does it mean when a company is a going concern?
What is a Phoenix Company and the rules around this process?
A phoenix company describes a business that has been purchased out of administration or liquidation, often by the existing directors.
Advantages and Disadvantages of a CVA
Learn more about Company Voluntary Arrangement procedures including the advantages and disadvantages of this corporate recovery solution.
What’s In a Name? Understanding Phoenixism and the Insolvency Act
One of the many responsibilities of a limited company director is to ensure their company is run in accordance with the Insolvency Act 1986 at all times.
The Company Voluntary Arrangement Process – How does it work?
A Company Voluntary Arrangement, or CVA, provides an exit from administration that repays a proportion of debts and halts creditor action against you.
Understanding company rescue in Scotland with advice for directors
If your company is registered in Scotland and is experiencing financial problems and potential insolvency, there are potential rescue options available.
