There are many instances in which a company can get struck off from the companies register. To begin with, it could be done on a voluntary basis, in which the directors no longer need it and make an application to close it off. They will be required to file all necessary documents. Also, it might be that the company has failed to file annual accounts as is required and within the right time. You can also have a business being struck off because it has been liquidated. In considering reinstating a company, there are various things to consider.
After a firm gets stuck off, any of the assets which it owns are passed to the crown. The only way that one can retrieve such assets is when they make an application to the courts to have the business restored. Such companies will also cease to exist as legal entities. That will mean it cannot trade, sue or be sued, enter into contracts or 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 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 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.
You will need to be versed with disbursements. These are fees charged by a third party. They will include fees paid to government departments as well as court fees. Such fees will be collected from all relevant third parties and paid on behalf of a client.
After a firm gets stuck off, any of the assets which it owns are passed to the crown. The only way that one can retrieve such assets is when they make an application to the courts to have the business restored. Such companies will also cease to exist as legal entities. That will mean it cannot trade, sue or be sued, enter into contracts or 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 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 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.
You will need to be versed with disbursements. These are fees charged by a third party. They will include fees paid to government departments as well as court fees. Such fees will be collected from all relevant third parties and paid 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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