Voluntary administration is a process designed to assist insolvent companies satisfy their debts by ensuring that they can either:
- come to a formal arrangement with their creditors to pay those debts, or
- are quickly and inexpensively placed into liquidation
A voluntary administration restrains creditors from enforcing their claims and can assist a company to trade out of short term difficulties often caused by either short term cash flow restrictions or one off financial problems.
It can also provide a way to restructure the business or the company itself to revive it to a healthier position. In certain circumstances, it can also be used by directors as a mechanism to avoid personal liability.
Our team of experienced insolvency lawyers can assist you with all aspects of corporate insolvency.
To find out more about what we can offer, visit our areas of law pages or contact our insolvency solicitors for a consultation.