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Administration can rescue or reorganise your company or business. Legislation stipulates that an administrator must rescue the company as a going concern. However, if a rescue is not feasible, the administrator will seek alternatives, either to achieve a better result for the company’s creditors or realise assets for the benefit of secured or preferential creditors.
The best feature of administration for many of our clients is that it offers protection from their creditors. Saracens can act on your behalf to apply for court orders that will grant your company or business more time to resolve your financial difficulties. Many businesses have found administration orders crucial to defend themselves against aggressive creditors and assist them in their return to the market.
The Saracens commercial team can assist companies going into administration and offer commercial solutions, for example, sale back to the existing owners or directors. We can work alongside insolvency practitioners, creditors, landlords, and other stakeholders to find the most effective action to be taken to protect the company’s positions.
Request a call back to discuss your situation.