Employment Lawyers Can Answer Your Employment Law Questions
Hi, Thank you for your question and welcome. The company can continue to trade but only with the permission of the administrator. If the company goes into insolvent liquidation and the directors have traded without the administrators permission and knowing the company to be insolvent, they could be held personally liable for the company debts. Is an administrator appointed? Kind regards AJ
Hi, Thank you. If the company has already gone into administration it wont be a pre pack sale - it will simply be a advertised sale. Sales in administration but the directors have to be careful and ensure they comply with the rules on re use of company names, if they use the same company name in a new business. Is there a buyer for the business of the admin company?