Pre Pack Administration
Very simply, a pre-pack Administration facilitates the quick sale of the assets of an insolvent business.
The struggling business sells all or some of its assets to a new company. The new company can have the same directors as the original company or be a completely separate business that has an interest in purchasing the insolvent company’s assets.
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The struggling business sells all or some of its assets to a new company. The new company can have the same directors as the original company or be a completely separate business that has an interest in purchasing the insolvent company’s assets.
Other Products and Services from AABRS
Bankruptcy
What is bankruptcy?
A creditor can issue a bankruptcy petition against an individual if they are owed a debt of more than £5,000. Alternatively, an individual can present their own bankruptcy petition by applying online and declaring themselves bankrupt. Once a bankruptcy order is made, the individual’s assets vest with the Trustee in Bankruptcy and these may include the bankrupt’s interest in the matrimonial home. The Trustee once appointed will deal with the realisation of the debtor’s assets and should sufficient funds be available, distribute these to creditors.
A creditor can issue a bankruptcy petition against an individual if they are owed a debt of more than £5,000. Alternatively, an individual can present their own bankruptcy petition by applying online and declaring themselves bankrupt. Once a bankruptcy order is made, the individual’s assets vest with the Trustee in Bankruptcy and these may include the bankrupt’s interest in the matrimonial home. The Trustee once appointed will deal with the realisation of the debtor’s assets and should sufficient funds be available, distribute these to creditors.
Liquidation Advice
If you’re a company director seeking advice about liquidation, the process involved, or how this would work for your company, please contact us with any questions you may have. We have many years experience with insolvency, and can help you navigate this potentially stressful subject to make it as easy as possible.
Members Voluntary Liquidation
A Members Voluntary Liquidation (MVL) is a process that enables shareholders’ to appoint a Liquidator in order to formally close down a solvent company. Once the Liquidator has realised all company assets and ensured that there are no outstanding company liabilities, a capital distribution will be paid to shareholders either in species or from funds held in the company.
AABRS
Langley House, Park Road, London, London, N2 8EY, United Kingdom
AABRS offer leading insolvency support and advice to a number of business across the UK. Our company primarily focuses on individuals who face financial difficulties, both corporate and personal. We strive to find the best solution for the client, no matter how large or small their requirements may be. We as a company have a team of dedicated professionals who are here to help resolve any financial struggles you may be having.