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What are the benefits of a Voluntary Administration?

A Voluntary Administration (“VA”) is not the end of a business, it can provide a company with the additional time and space required to potentially steer away from liquidation. The process allows for an external party (“the administrator”) to review the affairs of the company and liaise with the creditors, relieving the pressure on the director(s). During the administration period, the administrator assumes full responsibility for trading on, incurring liabilities and the decision-making process.

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