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OK thanks. ***** say the company is solvent it has a small amount of cash, about £2,000.00 and a bank loan in the same amount. What happens if there is no cash to pay the administrator?
The company has some equipment, not much, can we exchange it for our loans, write off the loans against these assets and then close the company and would it then be solvent?
It sounds as though it would.
Closing a company these days is quite a palaver, it is much easier and quicker to sell it off as a clean company.
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