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 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 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 that business was de-registered, there are several ways of having it restored. The two main methods are through administrative restoration and through court processes. The methods are very varied as regards the complexity, costs and time. You also need to note that some situations will require specific methods. If for instance the business was voluntarily struck off, you will only get to restore it via a court process.
There is the need to hire an attorney to oversee the proceedings. Court proceedings can especially be very complex and time consuming. The process is one that involves you having to liaise with registrar of companies and the courts. In certain instances, you would also need to involve tax advisers, accountants, liquidators and creditors.
The process will also involves drafting different legal documents like claim forms or witness statements. Owing to the strict nature of the process of having a company reinstated, you will need to engage an attorney for preparation of all the required documents. The legal documents are supposed to be issued to the relevant parties. They are also supposed to be issued within the right time.
The fee which will be charged will depend on what method one uses. A number of attorneys charge a flat fee. Others also have other structures. When you are searching for an attorney, you should know what they will be charging.
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 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 that business was de-registered, there are several ways of having it restored. The two main methods are through administrative restoration and through court processes. The methods are very varied as regards the complexity, costs and time. You also need to note that some situations will require specific methods. If for instance the business was voluntarily struck off, you will only get to restore it via a court process.
There is the need to hire an attorney to oversee the proceedings. Court proceedings can especially be very complex and time consuming. The process is one that involves you having to liaise with registrar of companies and the courts. In certain instances, you would also need to involve tax advisers, accountants, liquidators and creditors.
The process will also involves drafting different legal documents like claim forms or witness statements. Owing to the strict nature of the process of having a company reinstated, you will need to engage an attorney for preparation of all the required documents. The legal documents are supposed to be issued to the relevant parties. They are also supposed to be issued within the right time.
The fee which will be charged will depend on what method one uses. A number of attorneys charge a flat fee. Others also have other structures. When you are searching for an attorney, you should know what they will be charging.
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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