Voluntary Administration is a less known alternative to liquidation. How does it work? The board of directors resolves to put the company into administration. Administrators take control of the company. Creditors rights to pursue the pre-administration debt freezes for a five-week period (potentially extended by the court). An initial meeting of creditors is held, where ... read more.
Posts tagged with “solvent liquidation”
Photo courtesy of Thomas Angermann Give your client another option to consider We bet you’re wondering: “Why would a company choose to undergo a solvent liquidation? How would a company even find itself in this position?” Essentially, a solvent liquidation is a liquidation where the directors declare their organisation will be able ... read more.