Company Administration Services Derbyshire, UK.

When looking at alternatives to liquidation, administration can get better results for all parties by allowing the sale of the business.

As experienced Insolvency Practitioners Seneca IP can help formulate a business recovery and restructuring package.

For further information and a free initial consultation, please contact, John Hedger, head of our corporate insolvency team, who will be pleased to help you.

01629 761700 enquiries@seneca-ip.co.uk

Administration FAQs

This is an insolvency process that provides protection for the company where there is a prospect of saving the company’s business or providing a better result for creditors than would be achieved in a liquidation.

An insolvency practitioner is appointed as administrator to take control of the company. An administrator may be appointed:

  • By an order of the court on application by the company, the directors or one or more creditors
  • Without a court order by the company, directors or a creditor who holds a qualifying floating charge over the assets of the company.

In most cases, Seneca IP Limited can initiate administration proceedings for a company in a matter of hours, thus giving a company almost immediate protection from creditors.

When appointed, the administrator will liaise with the existing management of the company to formulate an achievable business recovery or restructuring package with the following objectives in mind:

  • Rescuing the company as a going concern, usually by the sale of its shares.
  • Achieving a better result for the creditors as a whole, than would be likely if the company were wound up (i.e. liquidated) without first being in administration, usually by the sale of the company’s business as a whole or in part.
  • Realising property of the company in order to make a distribution to secured or preferential creditors.

To achieve these objectives, the administrator has the power to carry on the business of the company or cease to trade and realise its assets.

The administrator will prepare a proposal for achieving the objectives of the administration and this will be presented to the creditors for their approval.

At the end of an administration:

  • The company may be returned to the control of its directors.
  • The company may go into liquidation.
  • The company may be dissolved.

Testimonials

Feedback from our customers.

“We could not see any way in which we could save more than 75% of our workforce. We approached Seneca IP who assisted us in the process of Liquidation but also dealt with our staff empathically and in a most professional manner.”

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“We could not trust the advice we had received elsewhere and were introduced to Seneca IP. Within minutes of meeting with Mr Hedger we were satisfied that we were in capable, professional hands. The entire team at Seneca saw us through what was admittedly a very tough time, their knowledge and professionalism was second to none and I do not hesitate to recommend them to anyone who finds themselves in the unenviable position we did.”

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“I am writing this letter of recommendation to express my sincere gratitude to James Annerson and John Hedger from Seneca IP Insolvency Practitioners for their exceptional help, guidance, and support during my company’s liquidation process. Their professionalism, expertise, and friendly approach made the whole experience much less stressful than I ever thought possible.”

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Acceditations & Certifications

 
ipa fellow member seneca ip 1
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insol europe member seneca ip
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If you need advice on any matter of either business or personal insolvency, give Seneca a call.

Call 01629 761700 today for a free consultation.
Monday-Friday: 09:00-17:00

E-mail: enquiries@seneca-ip.co.uk
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    Get in touch

    Call 01629 761700 today for a free consultation.
    E-mail: enquiries@seneca-ip.co.uk
    Contact Form

    Office Hours

    Monday-Friday: 09:00-17:00
    Saturday: Closed
    Sunday: Closed

    We are based in Matlock Derbyshire

    Seneca Insolvency Practitioners
    Speedwell Mill
    Old Coach Road
    Tansley
    Matlock
    DE4 5FY