What is Administrative Receivership?
Administrative receivership is when a floating charge against the company pre-dating 15/09/03 appoints a receiver to sell the company's assets for maximum value to pay off its debts. If you would like more information about Administrative receiverships then please call and speak to one of our team on 0845 634 6283.
All of our team have a number of years experience when dealing with companies that have gone into administrative receivership. We can offer confidential advise and support. So please don’t wait any longer. Call now.
What Are The Basic Types Of Insolvency?
- Administration When a company's assets are protected by virtue of a statutory moratorium. Administrators have the power to trade on the insolvent business.
- Administrative receivership When a floating charge against the company pre-dating 15/09/03 appoints a receiver to sell the company's assets for maximum value to pay off its debts.
- Company Voluntary Arrangement This is when creditors agree to a reduced or rescheduled debt arrangement.
- Scheme of Arrangement An arrangement between a company and its creditors that is similar to a CVA, although it must be approved by a court.
- Liquidation A process by which a business is ended by converting all of its assets into their cash value and distributing them to shareholders or creditors
Will My Supplier Agree to a CVA?
It’s quite likely that most suppliers will agree to a CVA, this is because any payment is better than none at all. Also continued sales are also very important. Another option includes agreements with a few major creditors who have more to lose by not getting it right.
Talk to us first and let us do a quick analysis of your business to see if a plan of action can be developed. This then enables an agreement and solution. Sometimes this means forcing suppliers into permanently renegotiating their supply price down.
Call one of our expert advisors today to discuss your options over the phone, or should you wish arrange an appointment to discuss in person on 0845 634 6283.