Limited Companies
:: Administration
:: Company Voluntary Arrangement
:: Members’ Voluntary Liquidation
:: Creditors’ Voluntary Liquidation
:: Administrative Receivership

Administration
Since the introduction of the Enterprise Act in September 2003, Administration has become easier to achieve. An Administration Order provides protection for a Company against actions being brought by creditors including those with Court Judgements. During the period in which the Company is in Administration O’Hara & Co will work with the Directors of the Company to formulate a strategy for the survival of the Company or its business, possibly by entering into a Company Voluntary Arrangement.

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Company Voluntary Arrangement (CVA)
A Board of Directors can propose a Company Voluntary Arrangement with the Company’s creditors, subject to receiving approval from 75% of those creditors who choose to vote. A CVA is often appropriate when there are temporary cash flow difficulties, for example, as a result of a large bad debt, loss of an order or as a result of downsizing. A CVA can provide a large degree of flexibility with a minimum level of disruption to the Company, allowing the Directors to retain control throughout.
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Members’ Voluntary Liquidation
If you have a Company that is solvent that has reached the end of it’s trading life and there is to be a return to shareholders, O’Hara & Co can simply and quickly arrange the drafting of the Statutory Declaration of Solvency and the solvent winding up of the Company. Members’ Voluntary Liquidation is an economical and expedient way of dissolving a Company.

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Creditors’ Voluntary Liquidation
O’Hara & Co can explain your rights, duties and obligations under the Insolvency Act 1986 and assist you in convening a meeting of creditors in the event of the insolvency of your Company. Your rights as a Director will be fully explained, together with any concerns you may have regarding personal liability (e.g guarantees provided to secured lenders or in respect of leases), whilst the interests of your creditors are protected.

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Administrative Receivership
If you have given security by way of a fixed and/or floating charge in respect of monies advanced to a Limited Company, then in the event of default by the said Limited Company a Partner of O’Hara & Co can act as Fixed Charge Receiver or Administrative Receiver to protect and realise your security.

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