What is Administration?
Administration is a powerful way to gain control if your company is insolvent and facing serious threats from creditors. By speaking to one of our expert advisors today, we can give you helpful advice about the process whilst discussing your options with you.
If you think you are going into administration, but are unsure of the facts; we can help! Contact one of our team of experts today for confidential advice on 0330 053 6790.
Alternatively you can arrange an appointment by emailing us through the contact us form. Please do not delay.
Is Business Rescue Possible?
If your business is struggling and you are unsure if it can be rescued, then call us today! We will do a very quick analysis of your company to see if a plan can be developed that enables it to be rescued. It is vital that you do not put this off, as things may only get worse.
Our team of experts have a number of years within the business rescue sector, and have more than likely seen your issues before.
What Are the Basic Tests of Insolvency?
If your business is unable to pay your debts, then under English Law you may be considered insolvent. The two basic test of insolvency include:-
- The Balance Sheet Test – This is where the value of your businesses assets are less than the amount of debt that is owed, taking into account any uncertain and future liabilities.
- The Cash Flow Test – This is if the company currently, or in the future is unable to pay back its debts when they fall due.
If a companies answer to either of these questions is yes, then under the English law that business would be deemed as insolvent. If you think this may be your company, then contact us now on 0330 053 6790 to find out how we can help.