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 company gets deregistered, if there are any assets which were owned, they will be passed to the crown. The only way you can have those assets retrieved will be by making an application so that the firm gets restored. A company that is struck off the register of companies does not exist as a legal entity. That means it is not able to trade or enter into any contracts. It cannot also 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 how the business was struck off, there are two ways of having it reinstated. The two methods are court order restoration and administrative reinstating. Both of the processes are varied as regards the cost, time and complexity. Also, certain processes can only be used in specific circumstances. For instance, in the event that a business was struck off voluntarily, the only way to have it restored is through a court process.
There is the need to hire an attorney to oversee the proceedings. Court proceedings can especially be very complex and time consuming. The process is one that involves you having to liaise with registrar of companies and the courts. In certain instances, you would also need to involve tax advisers, accountants, liquidators and creditors.
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 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 is also important to understand the aspect of disbursements. It is the fee that is charged by a third party. It includes government legal fees as well as court fees. These fees are collected from third parties and then paid off, on behalf of a client.
After a company gets deregistered, if there are any assets which were owned, they will be passed to the crown. The only way you can have those assets retrieved will be by making an application so that the firm gets restored. A company that is struck off the register of companies does not exist as a legal entity. That means it is not able to trade or enter into any contracts. It cannot also 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 how the business was struck off, there are two ways of having it reinstated. The two methods are court order restoration and administrative reinstating. Both of the processes are varied as regards the cost, time and complexity. Also, certain processes can only be used in specific circumstances. For instance, in the event that a business was struck off voluntarily, the only way to have it restored is through a court process.
There is the need to hire an attorney to oversee the proceedings. Court proceedings can especially be very complex and time consuming. The process is one that involves you having to liaise with registrar of companies and the courts. In certain instances, you would also need to involve tax advisers, accountants, liquidators and creditors.
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 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 is also important to understand the aspect of disbursements. It is the fee that is charged by a third party. It includes government legal fees as well as court fees. These fees are collected from third parties and then paid off, 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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