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Company administration is a formal insolvency procedure intended to protect a financially distressed company while a licensed insolvency practitioner assesses the best available outcome. Rather than moving immediately towards closure, administration creates an opportunity to rescue the company, preserve its underlying business or achieve a better result for creditors. The process combines legal protection with […]
With the current economic landscape witnessing the highest number of company insolvencies in 30 years, there are more opportunities than ever to acquire struggling businesses. Tom Grummitt, Insolvency Practitioner & Partner at Bridgewood, shares valuable advice from his experience. In the year 2023 alone, over 25,000 companies faced insolvency, marking a significant uptick – the […]
Administration is a formal insolvency process which places a company under the control of an Insolvency Practitioner and the protection of the court. A ‘Notice of Intention to Appoint’ or ‘Notice of Appointment’ can be filed at court by the Director(s), qualifying floating charge holder, a company, or creditor to commence the process of Administration. […]
We’re often asked about the difference between Liquidation and Administration and when one should be used over the other. Here we cover the main differences between the two formal insolvency procedures, […]
To enter Administration, a company needs to be, or is likely to become, insolvent, where either the company’s liabilities exceed its assets, or it is unable to pay its debts as and when they fall due. […]
