Once a company is dissolved, or struck off, it no longer legally exists and the assets are passed to The Crown. The company bank account is frozen and agreements such as leases, loans and insurance policies may become invalid.
A company that has been removed from the Register of Companies at Companies House can be restored either by a Company Restoration by Court Order or by Administrative Company Restorations.
If you want to restore a company to release its assets, such as money in a bank account or property, a court order is usually the best option. It is the only option when a company was struck off as a result of a voluntary application. Application must be made within six years of the date of dissolution and this can be made by a former director, shareholder, liquidator or creditor of the dissolved company.
If a company has been struck off by the Registrar of Companies, usually for failing to file accounts or annual returns, it may be eligible for an Administrative Restoration. A Crown Representation Waiver has to be applied for, and all outstanding Companies House filings must be made and any late filing penalties paid in full. An assurance is also needed that the company was trading when it was struck off and will continue to trade after restoration.
How we can help
Else Solicitors has an experienced company restoration team which can handle all the formalities and documentation for you, including liaising with the Companies Court and Companies House. We are proud of our track record in making successful applications to restore a company. Attention to detail, skills in compiling evidence and a thorough understanding of company restoration legislation is important for any application to stand the best chance of success.
To speak to a member of the insolvency and business recovery team team for more legal advice on company restoration, please call 01283 526200, alternatively you can send us a message and we will get in touch at a time that suits you.