Administration & Receivership
The purpose of an Administration Order is to freeze the debts of a company in financial difficulties and assist an administrator save the company, or at the very least, achieve a better realisation of a company’s assets. With the introduction of the Insolvency Act 2000 administration and rescue culture for business is being promoted by the government with a view to saving businesses and offering support wherever possible rather than driving these businesses into liquidation.
Receivership for a company does not mean the end of that company and liquidation does not always follow. Our team can advise not only upon the appointment of a Receiver, but also other creditors concerning their own security (or lack of it) and what steps can be taken to intervene following such an appointment, or even pursuing a negligence claim against a receiver.
At Tollers we can advise and assist companies with all aspects of administration and gaining that crucial breathing space for your business that could mean the difference between survival and going under.
