Administration

TDC Solutions Limited will evaluate your position and advise you of appropriate actions. We apply the highest operating standards and adhere to best practice in all cases.

As administrator the objectives of TDC Solutions Limited are to:

  • attempt to rescue the company as a going concern
  • achieving a better result for the company’s creditors as a whole than would be likely if the company were wound up (without first being in administration), or
  • realising property in order to make a distribution to one or more secured or preferential creditors.

We must perform the functions of the administrator with the first of these objectives in mind unless it is not reasonably practicable to achieve or that the second objective would achieve a better result for the
company’s creditors as a whole.

The final objective applies only where it is not reasonably practicable to achieve either of the first two and such action does not unnecessarily harm the interests of the creditors of the company as a whole.



Pre-Pack Administration
Pre-pack administrations may often deliver the best results for creditors. Pre-pack Administrations are where the sale of the business, and/or assets, of an insolvent company, are arranged prior to the commencement of a formal insolvency and the sale is concluded immediately upon appointment of an Administrator.

Pre- packs may often be considered in the scenario of owner-managed businesses or those situations where most of the true value in a business may be key staff or assets that may leave or diminish in value in the event of a formal insolvency.

Administrative Receivership
The granting of a floating charge registered prior to 15 September 2003 provided the lender with the ability to appoint an Administrative Receiver whose principle duty is to secure repayment of the outstanding loan.

The primary role of the Administrative Receiver is to secure the best outcome for his appointer whilst retaining a duty of care to the remaining creditors of the company. The Administrative Receiver has certain powers contained within the Insolvency Act 1986, which from experience are often expanded within the terms of the debenture.

Administrative receivership is not available where secured charges were registered post 15th September 2003.