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 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 different reasons why one would want to have a business restored. For example, it might be that that business has the title to a certain asset, such as money in a bank or physical properties. That property or asset could be very important but to be recovered, it would need the business to be restored. Reinstating a business will also be needed when you are a third party and has unresolved claims against dissolution of the business. That would then mean you have to take action so that you are 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.
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 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 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 will be important to understand what disbursements are. They are the fees which are charged by third parties. They include government legal department fees and court fees. The fees are collected from all relevant third parties and then paid off on behalf of the 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 different reasons why one would want to have a business restored. For example, it might be that that business has the title to a certain asset, such as money in a bank or physical properties. That property or asset could be very important but to be recovered, it would need the business to be restored. Reinstating a business will also be needed when you are a third party and has unresolved claims against dissolution of the business. That would then mean you have to take action so that you are 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.
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 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 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 will be important to understand what disbursements are. They are the fees which are charged by third parties. They include government legal department fees and court fees. The fees are collected from all relevant third parties and then paid off on behalf of the 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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