Administration

The administration procedure provides your company with protection from [hostile] creditors who cannot disturb your business or recover any assets without the permission of the court. The administration procedure is designed to hold a business together while plans are formulated to rescue the business, maximise asset realisations or put forward alternative procedures. The company will be placed under the day-to-day control and management of an administrator although we would utilise the experience and expertise of the existing management to formulate an exit route which can be the rehabilitation of the company and its return to the control of its directors and management, a company voluntary arrangement or liquidation.