Administration is an appropriate course of action for companies which urgently need protection from creditors. Unlike a CVA a company can be placed into administration almost immediately by the court if the court considers that it is an appropriate and does not need the approval of your creditors.

Benefits

• Any pending winding-up petitions will be dismissed or suspended
• There is a moratorium on insolvency and on other legal proceedings
• If a Receiver has been appointed, he or she must vacate office
• If a receiver of part of the company’s property has been appointed, he or she must vacate office (if the administrator requires this).