TAKE CONTROL OF YOUR DEBT AND MOVE FORWARD TO A BRIGHTER FINANCIAL FUTURE
A director/s can put a company or limited liability partnership (LLP) into Administration if it’s in debt and can’t pay the money it owes.
The business will benefit from legal protection from its creditors whilst the Administrator, a licensed insolvency practitioner, prepares a plan to rescue it, sell it or liquidate it.
The Administrator could decide to:
- negotiate a Company Voluntary Arrangement (CVA) with your creditors so your business can keep trading;
- sell the business as a ‘going concern’, which may be back to management, meaning your business can carry on in another form; or
- sell your assets as part of a Creditors’ Voluntary Liquidation with the proceeds going towards paying back your creditors.
Whilst the business is in Administration, the Administrator will be charged with managing all affairs.
We can help you achieve an Administration quickly and efficiently.
This term refers to an arrangement under which the sale of all or part of a company’s business or assets is negotiated with a purchaser prior to the appointment of the Administrator and the Administrator effects the sale (which may be back to management) immediately on, or shortly after, appointment.
This option can provide a seamless transfer from one business entity to another. It is the easiest way of preserving the value in a business and maintaining continuity with customers and staff.
Our experts have a wealth of experience in this area and are available today for a free initial consultation in the strictest of confidence. Call 0800 611 8888 or email us or click below to request a call back.
Testimonials from clients
“I extend my appreciation of your professional efficiency in handling my company business and herewith say thank you.” Maxine R
“First of all, I would like to say a BIG Thank You for all of your assistance over the past year. I would not be in the positive state of recovery without Umbrella. Your care and assistance at the application stage last summer, along with the advice throughout the year, has been great. I would not hesitate to tell anyone in my negative situation where to turn to.” Mr TM
Umbrella IVA is provided by Umbrella Accountants LLP who are authorised and regulated by the Financial Conduct Authority.
Registered Office: Bollin House, Bollin Link, Wilmslow, Cheshire, SK9 1DP: Company Number OC360021. Data Protection Number Z2517380. VAT Registration Number 107346824
Umbrella, Umbrella IVA and Umbrella Insolvency are trading styles of Umbrella Accountants LLP.
Thomas Fox LLB MIPA is an employee of Umbrella Accountants LLP and is licensed to act as an Insolvency Practitioner in the UK by the Insolvency Practitioners Association. Professional Indemnity Insurance - In accordance with the disclosure requirements of the Provision of Services Regulations 2009, the firm’s professional indemnity insurer is Arch Insurance (UK) Limited, 5th Floor, Plantation Place South, 60 Great Tower Street, London, EC3R 5AZ.
The territorial coverage is worldwide excluding professional business carried out in the United States of America or Canada and excludes any action for a claim brought in any court in the USA or Canada.
I would like to thank Sarah and her team for all the hard work they have put into helping me sort my finances out once and for all. Without this IVA I would still be struggling every month trying to make ends meet. I received nothing but an efficient polite service every time I spoke to a member of your team and I'm so very grateful. Thank you so much. Natasha R (January 2017)