VA permits companies to continue trading whilst undertaking a formal restructure and negotiating compromises with its creditors. It also stops unsecured creditors from enforcing their claims against the company.
This kind of insolvency appointment is designed to resolve a company’s future quickly. The aim is to administer the affairs of the company in a way that results in a better return to creditors.
At Rapsey Griffiths our team has extensive experience when it comes to helping organisations through a Voluntary Administration. We’ll guide you through the entire process, providing the best chance for your company to survive.
The benefits of a Voluntary Administration include:
The Voluntary Administration period runs for 20 business days or 25 business days during the Christmas and Easter period.
At the conclusion of the Voluntary Administration period, creditors vote on the following options:
Where possible, we’re committed to ‘turning around’ businesses. If that’s not viable, we act swiftly to mitigate losses
We work with you to find the best possible solution for everyone involved.
As Registered Liquidators and Registered Trustees in Bankruptcy we have the expertise and authority to act.
You can count on us to remove uncertainty and provide expert commercial advice in a timely manner.