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Voluntary Administration Form

Voluntary Administration Form

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what is voluntary Administration voluntary administrations give companies the opportunity to have a fresh start providing an Avenue to regenerate its debts and continue to trade rather than immediately winding up the company when a company becomes insolvent or is likely to become insolvent in the near future directors can appoint an independent insolvency practitioner to assume control of a company under a voluntary Administration once this process starts there is a moratorium so that the creditors can no longer pursue their debts this is to provide the company with some breathing space and allow the practitioner to undertake investigations while trying to maximize the business's value and maximize the returns to creditors the voluntary Administration period is relatively short generally around 20 business days unless extended by the court during this time the administrator will explore options such as trading part or all of the business conducting a sales campaign for the comp

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