As we enter a new year it is a good time for businesses to start afresh with good practices and a great place to start with this is reviewing commercial contracts . There are many contracts that businesses will be involved in regardless of the size or...
Administration is a formal insolvency procedure whereby an insolvency practitioner is appointed by either the directors, the company or the holder of a qualifying floating charge (usually the bank or other financial institution).
An administration usually allows the business to continue trading throughout the process and provides protection against any enforcement action taken by creditors.