DCL Advisory is a professional insolvency consultation firm that offers Voluntary Administrator services.
Voluntary Administration offers relief to an insolvent company so it can determine its future. Protections include:
unsecured creditors cannot pursue claims against it without the administrators or courts approval
secured creditors cannot impose charges
non-perishable property owners or those who leased property to the company cannot recover said property
courts cannot commence liquidation
creditors holding personal guarantees cannot act without the courts consent
The directors of the business or a secured creditor who oversees most of the businesses resources hires a Voluntary Administrator to rec…
Read the full article at: https://industrytoday.co.uk/finance/importance-and-role-of-the-voluntary-administrator