What is company administration, and how it is work.
Making the decision to go into company administration can be a strong one, especially if you are not sure what the outcome will be. When a failure practitioner is appointed as the administrator services of a company by its directors, the purpose is usually to do whatever is necessary to maintain the business whilst making sure creditors’ positions are protected and returns maximized.
All management of the business operations is relinquished to the company administrator. The Company Administration Services is safe from all legal action through a moratorium while the company administrator carries out the plan proposed at the official creditors’ meeting.