There are a number of reasons for which a company could be struck off the companies register. In the first place, it can be on a voluntary basis, which happens when the firm is no longer needed by its directors. They could then need to file the necessary documents. It could also be because some statutory documents like annual accounts are not correctly filed within the required time. Companies will also be struck off when they go into liquidation. When it comes to reinstating a company there are a number of things that you need to know.
After a business gets struck off, the assets will not be available for use. Such assets can only usually be retrieved when one makes application at the courts to ask that they be restored. A business which is no longer registered will not be a legal entity anymore. That essentially means the company will not be able to do any trade, sue anyone or be sued or even get contracts, Further, they cannot own assets.
There are various other reasons why one might want to have their company restored. For instance, it could be that the business had title to some asset, for instance money in the bank or some physical property. Such property might be important and thus should be recovered, which will need the business to get restored. Reinstatement could also be required when one is a third party with unresolved claims against dissolution of the company and hence must take action in order to get compensated.
Depending on the way a business was struck off, there are a number of ways to ensure it is reinstated. The two main methods are through the courts and through administrative reinstatement. The two processes are different as regards the time involved, complexity and costs. In addition to the differences, each of them will be used for specific circumstances. For example, if a business got struck off voluntarily, the only way to have it restored would be through a court process.
There is usually the need for an attorney for the proceedings. Court order reinstatement can particularly be time sensitive and complicated. It is a process that involves having to liaise with the registrar of companies, government legal department and courts. In some cases, liquidators, tax advisers, creditors and accountants are also involved.
The process also involves drafting of legal documents such as claim forms and witness statements. Owing to the very strict nature of having a business reinstated, you will need an attorney to prepare all documents which will be needed. The documents are then issued to the right parties and within the agreed time. The client will not worry about whether the process was done in the right way.
The charges for the services are dependent on the specific option that one chooses. You will find a good number of attorneys charging flat fees, while others have different payment structures. You will need to know the cost of services in time.
You will need to be versed with disbursements. These are fees charged by a third party. They will include fees paid to government departments as well as court fees. Such fees will be collected from all relevant third parties and paid on behalf of a client.
After a business gets struck off, the assets will not be available for use. Such assets can only usually be retrieved when one makes application at the courts to ask that they be restored. A business which is no longer registered will not be a legal entity anymore. That essentially means the company will not be able to do any trade, sue anyone or be sued or even get contracts, Further, they cannot own assets.
There are various other reasons why one might want to have their company restored. For instance, it could be that the business had title to some asset, for instance money in the bank or some physical property. Such property might be important and thus should be recovered, which will need the business to get restored. Reinstatement could also be required when one is a third party with unresolved claims against dissolution of the company and hence must take action in order to get compensated.
Depending on the way a business was struck off, there are a number of ways to ensure it is reinstated. The two main methods are through the courts and through administrative reinstatement. The two processes are different as regards the time involved, complexity and costs. In addition to the differences, each of them will be used for specific circumstances. For example, if a business got struck off voluntarily, the only way to have it restored would be through a court process.
There is usually the need for an attorney for the proceedings. Court order reinstatement can particularly be time sensitive and complicated. It is a process that involves having to liaise with the registrar of companies, government legal department and courts. In some cases, liquidators, tax advisers, creditors and accountants are also involved.
The process also involves drafting of legal documents such as claim forms and witness statements. Owing to the very strict nature of having a business reinstated, you will need an attorney to prepare all documents which will be needed. The documents are then issued to the right parties and within the agreed time. The client will not worry about whether the process was done in the right way.
The charges for the services are dependent on the specific option that one chooses. You will find a good number of attorneys charging flat fees, while others have different payment structures. You will need to know the cost of services in time.
You will need to be versed with disbursements. These are fees charged by a third party. They will include fees paid to government departments as well as court fees. Such fees will be collected from all relevant third parties and paid on behalf of a client.
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