Effective Tips For Restoring A Dissolved Company
There may come a time when your organization may be suspended due to a number of reasons. This should not be the end of meeting your goals as there is still light at the end of the tunnel. Restoring a dissolved company can be achieved when the right procedure is followed. This article explores the process that will help getting your firm back to work.
To start with, two major ways exist to help you restore your corporation. They include administrative restoration and restoration by court order. Administrative firm restoration is possible when you faced difficulties or failed to file given documents in due time. Restoration by court order is possible under certain circumstances. It is considered when you have legal claims against the suspended corporation.
If you are thinking of administrative restoration, it is imperative you confirm if you are qualified to apply. It will be possible if the organization had been struck off by the Registrar of firms. The procedure should be applied for not more than six years from the date it was disbanded. Another requirement is that the corporation should have been operational when it was disbanded. This application needs to be realized by the shareholder during the time it was closed.
If the above conditions have been met, the next step is to apply to Companies House for the administrative restoration. Several items ought to be sent in order to apply successfully. The registration number of your firm is required as well as a compliance statement confirming that one has a legal standing in order to make the application. A restoration fee must be paid with the firm number to avoid different confusions.
Any important documents like confirmation statements should be provided to the relevant authorities. This is to ensure that records are updated. In addition, any document that was overdue when the corporation was disbanded need to be provided. Any document that is penalized will have to be paid for as there is a penalty fee for such. A statutory penalty will apply if you file your account late.
When all the documentation are provided, the Companies House will then file the application. If everything is provided, this process will not exceed two weeks. A confirmation will then be sent if the process was possible or it failed. If it was possible, you will receive a notice followed by restoration of your corporation. All your assets which were temporarily held by the crown will be returned. If it was not possible, file for court orders.
There is a procedure to be followed when considering restoration by court order. It is important you get to know what is required before time to make sure everything is in place. All corporation documentation should be provided prior to the hearing. You will be required to pay a court fee and sign a claim form together with a witness statement at the court. As it is a straightforward procedure, all the required steps need to be followed to the letter so as to avoid delays.
If your option of restoration is by court order, it is vital to seek independent legal advice to ensure that process succeeds. Following the right procedure ensures that you get your firm back within no time to resume operations. This will ensure you still meet your targets without losing everything.
To start with, two major ways exist to help you restore your corporation. They include administrative restoration and restoration by court order. Administrative firm restoration is possible when you faced difficulties or failed to file given documents in due time. Restoration by court order is possible under certain circumstances. It is considered when you have legal claims against the suspended corporation.
If you are thinking of administrative restoration, it is imperative you confirm if you are qualified to apply. It will be possible if the organization had been struck off by the Registrar of firms. The procedure should be applied for not more than six years from the date it was disbanded. Another requirement is that the corporation should have been operational when it was disbanded. This application needs to be realized by the shareholder during the time it was closed.
If the above conditions have been met, the next step is to apply to Companies House for the administrative restoration. Several items ought to be sent in order to apply successfully. The registration number of your firm is required as well as a compliance statement confirming that one has a legal standing in order to make the application. A restoration fee must be paid with the firm number to avoid different confusions.
Any important documents like confirmation statements should be provided to the relevant authorities. This is to ensure that records are updated. In addition, any document that was overdue when the corporation was disbanded need to be provided. Any document that is penalized will have to be paid for as there is a penalty fee for such. A statutory penalty will apply if you file your account late.
When all the documentation are provided, the Companies House will then file the application. If everything is provided, this process will not exceed two weeks. A confirmation will then be sent if the process was possible or it failed. If it was possible, you will receive a notice followed by restoration of your corporation. All your assets which were temporarily held by the crown will be returned. If it was not possible, file for court orders.
There is a procedure to be followed when considering restoration by court order. It is important you get to know what is required before time to make sure everything is in place. All corporation documentation should be provided prior to the hearing. You will be required to pay a court fee and sign a claim form together with a witness statement at the court. As it is a straightforward procedure, all the required steps need to be followed to the letter so as to avoid delays.
If your option of restoration is by court order, it is vital to seek independent legal advice to ensure that process succeeds. Following the right procedure ensures that you get your firm back within no time to resume operations. This will ensure you still meet your targets without losing everything.
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Effective Tips For Restoring A Dissolved Company
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