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 company gets deregistered, if there are any assets which were owned, they will be passed to the crown. The only way you can have those assets retrieved will be by making an application so that the firm gets restored. A company that is struck off the register of companies does not exist as a legal entity. That means it is not able to trade or enter into any contracts. It cannot also 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 how the business was struck off, there are two ways of having it reinstated. The two methods are court order restoration and administrative reinstating. Both of the processes are varied as regards the cost, time and complexity. Also, certain processes can only be used in specific circumstances. For instance, in the event that a business was struck off voluntarily, the only way to have it restored is through a court process.
You will need to hire an attorney to oversee the entire procedure. That is more so for court proceedings which are sensitive and complex. It is a procedure that will require that you coordinate with the government legal department and the registrar of companies. In certain instances, creditors, accountants and tax advisers will also have to be hired.
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 fees that is charged will depend on the procedure that is used. Most attorneys charged a flat fee, but you can also find other structures. When looking for a suitable attorney, you need to know what the charges will be.
It is also important to understand the aspect of disbursements. It is the fee that is charged by a third party. It includes government legal fees as well as court fees. These fees are collected from third parties and then paid off, on behalf of a client.
After a company gets deregistered, if there are any assets which were owned, they will be passed to the crown. The only way you can have those assets retrieved will be by making an application so that the firm gets restored. A company that is struck off the register of companies does not exist as a legal entity. That means it is not able to trade or enter into any contracts. It cannot also 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 how the business was struck off, there are two ways of having it reinstated. The two methods are court order restoration and administrative reinstating. Both of the processes are varied as regards the cost, time and complexity. Also, certain processes can only be used in specific circumstances. For instance, in the event that a business was struck off voluntarily, the only way to have it restored is through a court process.
You will need to hire an attorney to oversee the entire procedure. That is more so for court proceedings which are sensitive and complex. It is a procedure that will require that you coordinate with the government legal department and the registrar of companies. In certain instances, creditors, accountants and tax advisers will also have to be hired.
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 fees that is charged will depend on the procedure that is used. Most attorneys charged a flat fee, but you can also find other structures. When looking for a suitable attorney, you need to know what the charges will be.
It is also important to understand the aspect of disbursements. It is the fee that is charged by a third party. It includes government legal fees as well as court fees. These fees are collected from third parties and then paid off, on behalf of a client.
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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.
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