Insolvency - Administration

The purpose of an Administration Order is to freeze the debts of a company in financial difficulties and assist an administrator save the company, or at the very least, achieve a better realisation of a company’s assets.

With the introduction of the Insolvency Act 2000 administration and rescue culture for business is being promoted by the government with a view to saving businesses and offering support wherever possible rather than driving these businesses into liquidation.

At Hegarty LLP we can advise and assist companies with all aspects of administration and gaining that crucial breathing space for your business that could mean the difference between survival and going under.

If you are a company director and your company is struggling to meet it’s debts and liabilities as they are falling due, in order to protect yourself against possible proceedings later on you ought to be considering taking advice at as early a stage as possible, which may well involve administration.