Verdes Management’s use of a notice of intention to appoint an administrator

Written by companyrescuelondonadmin 3 April 2017

Verdes Management is still trading as at 22nd March 2014 having filed multiple notice of intentions to appoint an administrator.  The reason given was that the management were trying to introduce new equity into the business.  The shares were suspended on the 30th January 2014.  However they started trading again at the beginning of March and are now up substantially.  So they were successful in getting the the investment then!

A notice of intention to appoint is a very powerful tool in preventing aggressive creditors attacking the company when there is a realistic chance of the company being in a better position if it can have a bit more time.   In essence their has to be an intention there to put the business into administration as things currently stand.  

For more information on how an intention to appoint an administrator works then have a look at this page

Categories: Administration, What is administration