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Administration and duties covers the formal insolvency route for companies and the fiduciary duties of directors. It includes applying for or appointing an administrator, achieving a moratorium on creditor action, and pursuing rescue or restructuring while progressing a formal plan. A solicitor helps with drafting and lodging the relevant court paperwork, communicating with creditors, and coordinating with administrators and stakeholders to maximise value and avoid liquidation. It also covers the duties and duties of care directors owe, and how those duties interact with insolvency processes.
Administering an insolvent or at-risk company involves complex timelines, court orders, and creditor dynamics. A solicitor’s role includes preparing the administration filing, navigating moratorium protections, coordinating with the administrator, and advising on directors’ conduct to comply with duties and preserve value within statutory constraints.
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