There are various reasons why companies are struck off the register of companies. To begin with, it is something that could be done on a voluntary basis, something that could be because the directors do not need the business anymore. That will require that they fill all necessary documents. The other reason could be because such statutory documents as annual accounts are not filled correctly or within the required time. You could also have a business being de-registered because it has gone into liquidation. In considering reinstating a company a number of things should be considered.
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 a number of reasons that would require one to have a company restored. As an example, there are instances when a business has a title to a certain asset, which could be money or some physical property. If that is the case, if you need to have that property recovered, you will have no other option but to have that business restored. The other instance could be when you are a third party and there are claims which remain unresolved. That would then mean that you have to get the company restored in order to get compensation.
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 will also involve drafting of legal documentation like witness statements and claim forms. Because of the strict nature of reinstating companies, you need an attorney to prepare all the needed documents and have them issued to the correct parties within the required time. That ensures that you do not have to be worried about whether you have done the right thing.
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.
It will be important to understand what disbursements are. They are the fees which are charged by third parties. They include government legal department fees and court fees. The fees are collected from all relevant third parties and then paid off on behalf of the 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 a number of reasons that would require one to have a company restored. As an example, there are instances when a business has a title to a certain asset, which could be money or some physical property. If that is the case, if you need to have that property recovered, you will have no other option but to have that business restored. The other instance could be when you are a third party and there are claims which remain unresolved. That would then mean that you have to get the company restored in order to get compensation.
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 will also involve drafting of legal documentation like witness statements and claim forms. Because of the strict nature of reinstating companies, you need an attorney to prepare all the needed documents and have them issued to the correct parties within the required time. That ensures that you do not have to be worried about whether you have done the right thing.
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.
It will be important to understand what disbursements are. They are the fees which are charged by third parties. They include government legal department fees and court fees. The fees are collected from all relevant third parties and then paid off on behalf of the client.
About the Author:
When you are looking for information about reinstating a company, come to our web pages today. More details are available at http://www.nevadadiscountregisteredagent.com/reinstate-your-default-or-revoked-nevada-company now.