There may come a time when your organization may be suspended due to a number of reasons. This should not be the end of meeting your goals as there is still light at the end of the tunnel. Restoring a dissolved company can be achieved when the right procedure is followed. This article explores the process that will help getting your firm back to work.
There are two major ways to restore a suspended organization. The first one is administrative restoration. This is when you may have failed to file documents on time due to a number of difficulties. The second way is restoration through court orders. This is possible under a number of circumstances. It is mostly available when you have legal claims against your disbanded corporation.
If administrative enterprise restoration is an option that you want to try, ensure you qualify for the application. This process can be a success if your firm had been closed by the Registrar of firms. You also have to apply for it within six years after the organization was closed. The firm also needs to have been functioning at the period of closure.
The next step you should take is to apply to Companies House for Administrative firm restoration if you have met the above conditions. The following items must be sent to Companies House for a successful application; a compliance statement that confirms that you have a legal standing order for making an application and the registration code of your firm. A restoration fee will then be paid with the firm number indicated to avoid any confusion.
Important documents such as confirmation statements and accounts need to be provided. This will ensure that all records are updated. Also, all due documents at the date of dissolving should be provided. There is also a penalty fee for any outstanding document that will be penalized. There is also a statutory penalty especially if your account was filed late.
When all the documentation are provided, the Companies House will then file the application. If everything is provided, this process will not exceed two weeks. A confirmation will then be sent if the process was possible or it failed. If it was possible, you will receive a notice followed by restoration of your corporation. All your assets which were temporarily held by the crown will be returned. If it was not possible, file for court orders.
There is a procedure to be followed when considering restoration by court order. It is important you get to know what is required before time to make sure everything is in place. All corporation documentation should be provided prior to the hearing. You will be required to pay a court fee and sign a claim form together with a witness statement at the court. As it is a straightforward procedure, all the required steps need to be followed to the letter so as to avoid delays.
When you intend to make an application to restore your organization by court order, it is crucial to seek an independent legal advice. When following the right procedure, you will be able to get your organization back, allowing you to resume to normal operations so as to meet your goals.
There are two major ways to restore a suspended organization. The first one is administrative restoration. This is when you may have failed to file documents on time due to a number of difficulties. The second way is restoration through court orders. This is possible under a number of circumstances. It is mostly available when you have legal claims against your disbanded corporation.
If administrative enterprise restoration is an option that you want to try, ensure you qualify for the application. This process can be a success if your firm had been closed by the Registrar of firms. You also have to apply for it within six years after the organization was closed. The firm also needs to have been functioning at the period of closure.
The next step you should take is to apply to Companies House for Administrative firm restoration if you have met the above conditions. The following items must be sent to Companies House for a successful application; a compliance statement that confirms that you have a legal standing order for making an application and the registration code of your firm. A restoration fee will then be paid with the firm number indicated to avoid any confusion.
Important documents such as confirmation statements and accounts need to be provided. This will ensure that all records are updated. Also, all due documents at the date of dissolving should be provided. There is also a penalty fee for any outstanding document that will be penalized. There is also a statutory penalty especially if your account was filed late.
When all the documentation are provided, the Companies House will then file the application. If everything is provided, this process will not exceed two weeks. A confirmation will then be sent if the process was possible or it failed. If it was possible, you will receive a notice followed by restoration of your corporation. All your assets which were temporarily held by the crown will be returned. If it was not possible, file for court orders.
There is a procedure to be followed when considering restoration by court order. It is important you get to know what is required before time to make sure everything is in place. All corporation documentation should be provided prior to the hearing. You will be required to pay a court fee and sign a claim form together with a witness statement at the court. As it is a straightforward procedure, all the required steps need to be followed to the letter so as to avoid delays.
When you intend to make an application to restore your organization by court order, it is crucial to seek an independent legal advice. When following the right procedure, you will be able to get your organization back, allowing you to resume to normal operations so as to meet your goals.
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