PRE-PACK ADMINISTRATION & A PHOENIX COMPANY

The UK's insolvency legislations allows, subject to certain steps being undertaken, to transfer your the current business of your insolvent company into a new, completely debt-free phoenix company. The sale is fully agreed in advance, and subject to certain criteria and steps being taken, you can retain the old business name and seamlessly continue with existing contracts and customers, with all debts of the troubled limited company written-off.

In certain circumstances, the best form of business rescue is to use the Pre-Pack Administration procedure, as Pre-Pack Administration does not mean the death of the core business, but merely the end of the troubled limited company. Using the pre-pack administration process as a sword rather than a shield, the business can be restructured and seamlessly transferred to a new phoenix company, which can continue the trading activities, but which is completely debt-free, whilst being afforded protection from the actions of creditors seeking enforcement.

We will guide you through the whole Pre-Pack Administration process, from the outset until the company is ultimately dissolved, helping you through the potential pitfalls, yet ensuring that your core business survives with little or no impact. We will assist in the restructuring of the business, streamlining the core business prior to, and part of, the pre-pack administration process, ensuring that the business is in a significantly better position moving forward post-administration.

We can assist with the smooth, legal transition of the business from the insolvent company to a new, debt-free phoenix company.