Having an understanding of the various insolvency processes can ensure that you make the right decision. Expand your knowledge on voluntary administration and learn how it differs from liquidation and receivership. These in-depth articles written by industry professionals contain useful information that will help you overcome any financial challenges.
Voluntary administration is an insolvency process and is initiated to help a company that’s in financial trouble. Generally, the companies that turn to voluntary administration are facing debt issues, such as not being able to pay creditors.
Voluntary administration is executed over a series of steps, beginning with the decision to enter into voluntary administration, proceeding with the appointment of an administrator who investigates the status of the organisation, and culminating in creditors meeting to decide future courses of action.