Company Administrative Receivership
Company Administrative Receivership is known more generally as Receivership.
In these circumstances, a receiver is appointed, putting the company into a formal state of insolvency in order to protect the position of both creditors and directors. Administrative receivers have wide powers which allow trading to continue, and, if at all possible, to sell the business as a going concern. Even if the business cannot be sold, actions can be taken to enhance asset values prior to realisation.
The company assets are realised by the Insolvency Practitioner to repay a major creditor who holds a significant security over the assets e.g. a finance company.
- Insolvency options for limited companies
- Insolvency options for sole traders and partnerships