Voluntary Administration
If a company is insolvent or likely to become insolvent, a Voluntary Administrator may be appointed to take control of the company and try to work out a way to save the company or its business.
The Voluntary Administration legislation provides the legal framework for a company to obtain some breathing space to enable the directors, in consultation with the administrator, to formulate a plan to restructure the financial affairs of the company, if possible.
* What is the purpose of a Voluntary Administration?
* How is a Voluntary Administrator appointed?
* How long does a Voluntary Administration last?
* What is the effect of the appointment of a Voluntary Administrator?
* What is the Voluntary Administrators role?
* What meetings are required in the Voluntary Administration period?
* How does the Voluntary Administrator notify creditors of any meetings?
* What are the options available under a Voluntary Administration?
* Voting and passing resolutions at the creditors meetings
