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 also involves drafting of legal documents such as claim forms and witness statements. Owing to the very strict nature of having a business reinstated, you will need an attorney to prepare all documents which will be needed. The documents are then issued to the right parties and within the agreed time. The client will not worry about whether the process was done in the right way.
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.
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 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 also involves drafting of legal documents such as claim forms and witness statements. Owing to the very strict nature of having a business reinstated, you will need an attorney to prepare all documents which will be needed. The documents are then issued to the right parties and within the agreed time. The client will not worry about whether the process was done in the right way.
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.
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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