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 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 involve drafting of legal documentation like witness statements and claim forms. Because of the strict nature of reinstating companies, you need an attorney to prepare all the needed documents and have them issued to the correct parties within the required time. That ensures that you do not have to be worried about whether you have done the right thing.
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.
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 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 involve drafting of legal documentation like witness statements and claim forms. Because of the strict nature of reinstating companies, you need an attorney to prepare all the needed documents and have them issued to the correct parties within the required time. That ensures that you do not have to be worried about whether you have done the right thing.
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.
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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