Administration and Liquidation

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Administration or liquidation are the legal options available to a company that is insolvent; that is, unable to pay its debts as and when those debts fall due.

Whilst company failures are inevitable in a market economy, the law requires those who take the benefit of limited liability companies to be able to recognise early warning signs and to act responsibly to avoid or reduce their creditors’ losses.

Furthermore, even though the voluntary administration regime is intended to assist directors to more readily meet their legal obligations, it is critical that all directors should know precisely what those obligations are.

Camatta Lempens prides itself on providing timely, legally-sound advice and assisting directors or, conversely, administrators, liquidators and creditors with the life-changing events that overtake a company when it cannot pay its debts as and when they fall due.

If you suspect that your company or a company with whom your company is doing business is or maybe trading whilst insolvent, call us NOW. Later may be too late.

If you are not quite sure about what your duties as a director are with respect to trading whilst insolvent, or whether you should be making payments to a creditor company that you are worried about, call us NOW. Don’t delay.

If you want to be proactive and take steps to protect you and your company BEFORE something as serious as an insolvency event occurs, call us NOW. It just may be the best business advice you’ll ever get.