Administrative receivership

Realise your company’s maximum value through administrative receivership. If your company is being dissolved due to secured finance then we will ensure you receive the best outcome. The perception has long been that administrative receivership is a terminal event for any company. It is usually triggered by a failure to meet the payment terms of a loan or overdraft.

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How is administrative receivership used?

Administrative receivership was commonly used by banks up to 2003 when the law changed although it can still be used by lenders today if they hold a debenture dated 2003 or older.

The reaction of most directors on discovering that their company is going to enter administrative receivership is one of stress and feelings of personal failure.  However, it may be the case that with quick action you can still rescue your company.

How can we help?

  • Free initial assessment – find out the facts behind your businesses position and arm yourself with all the necessary information to make the right decision using expert advice from our specialists.
  • Make applications to Court – our team understands how to communicate with the courts and the requirements of official orders.  By working with our preferred lawyers we can arrange extensions allowing you to effectively manage your company’s situation.
  • Structuring time to pay arrangements – if we can produce a watertight turnaround plan this can be used as the basis of a repayment plan to your creditors.
  • Working with the Official Receiver – should all else fail then you may be able to request that McTear Williams & Wood is instated as the authority that deals with your compulsory liquidation, ensuring that the sale of your company and assets is handled in a fast and effective manner.

Andrew McTear

Director

Andrew has over 35 years of experience in insolvency.  He qualified as a Chartered Accountant in 1984 and Licensed Insolvency Practitioner in 1988 and co-founded McTear Williams & Wood with Chris Williams and David Wood in 2000 as a regional business rescue and insolvency firm.

Andrew advises directors, shareholders and individuals on all aspects of business rescue and insolvency.    He acts as an insolvency practitioner in all forms of corporate insolvency including administrations, pre-packs, liquidations and company voluntary arrangements as well as individual voluntary arrangements and bankruptcies for individuals.

Andrew has wide experience advising SME businesses and leads on complex investigation and forensic recovery engagements.

Your options

  • Administration as an alternative – should you choose to go into administration rather than looking at rescue our expert advisors can ensure that the sale of your business is handled in a fast and efficient manner to deliver the maximum return.
  • Our service standards – starting with full confidentiality through to taking an insolvency appointment to effectively liquidate your company, our service is personalised and flexible in line with your needs during this troubling time.

Act fast for a better result

Have you already breached the terms and conditions of the finance arrangement with your creditors?   Then it may be the case that your creditor is already exploring the possibility of putting your business into administrative receivership.  Defaulting on your finance agreements is always a sign of business distress. The sooner you start to understand what is needed to return to full profitability, the more options are available to you. 

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