LOOKING FOR A VOLUNTARY ADMINISTRATOR?
A Voluntary Administration is appropriate for a business that is still is trading but is struggling with the burden of debt. Once you appoint a voluntary administrator you can submit a proposal to your creditors for acceptance to reduce the level of debt which is known as a deed of company arrangement. This is a cost effective and legitimate way to reduce debt so your company can continue to trade into the future (subject to creditor acceptance).
The voluntary administrator will consider the proposal and compare it to what creditors would get if the company was wound up (i.e. placed into liquidation). The administrator must take control of the business during this time.
INCLUDES THE FOLLOWING
Comprehensive financial assessment prior to accepting any appointment as voluntary administrator.
Assisting you with formulating a proposal that is likely to be in best interests of your creditors.
Reporting to creditors on your proposal to restructure your company.
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