The statutory moratorium granted by a Company Administration can provide breathing space for the company, during which time creditors cannot take action against the it. However, directors will lose managerial control once the administrator is appointed.
Administration is used to:
- Rescue the company as a going concern or,
- Achieve a better result than liquidation or,
- Realise property to be distributed to secured or preferential creditors
There are various routes to put the company into Administration depending on the company's specific circumstances. Please contact us if you require further information.
