A moratorium is a director led process which allows the directors to trade their Company with an insolvency practitioner acting in the role of ‘Monitor’. The Monitor will oversee the Company’s affairs.
The aim of the moratorium is to protect Companies by providing a short period of time when actions taken by creditors in respect of outstanding debts are frozen. It will also allow the Company to formulate a turnaround plan. The moratorium is focused on the recovery of the Company rather than the realisation of its assets.
If you would like to discuss the prospect of entering into a moratorium process for your Company with one of our Licensed Insolvency practitioners then please contact Insolve Plus on 020 7495 2348.