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A company in financial distress may be placed under the control of an Administrator; an Insolvency Practitioner who will manage the company’s business and assets with the aim of ensuring the survival of the company or its business. If that is not possible the Administrator will realise the company’s assets to achieve a better outcome than if the company were liquidated.
When the process for the company’s administration has begun, the company will be given valuable breathing space; a legal protection from its creditors taking legal action or seizing assets which could lead to the company’s failure before a workable recovery solution is put into place. This gives time to ensure that the right solution is found for all stakeholders.
The Company or its directors may appoint the Administrator meaning they retain control of the restructuring process.
At Kingsbridge we have a wealth of experience, using administration as part of the restructuring tool kit to achieve optimal outcomes for stakeholders. Read our case studies or contact us to find out more.