2 minutes

A Notice of Revision of Administrator Proposals refers to a legal document that notifies creditors, shareholders, and other interested parties about changes or updates made to the original proposals put forward by the administrator during the administration process.

When a company enters administration, an insolvency practitioner is appointed as the administrator to oversee the affairs of the company and develop a proposal outlining how the administration process will be conducted. The administrator’s proposals typically include details about the objectives of the administration, a proposed strategy for achieving those objectives, and the expected outcomes for creditors.

However, there may be instances where the administrator needs to revise or modify the initial proposals due to various reasons. This could be a result of new information becoming available, changes in circumstances, or feedback received from creditors or other stakeholders.

The Notice of Revision of Administrator Proposals is issued to inform interested parties about the changes made to the original proposals. It may include explanations for the revisions, updates on the expected outcomes, and any implications or actions required from creditors or shareholders.

It is essential for creditors and shareholders to carefully review the Notice of Revision of Administrator Proposals to understand the impact of the changes on their rights and interests. The notice provides an opportunity for affected parties to assess the revised proposals and provide feedback or raise objections if necessary.

The purpose of the notice is to ensure transparency and keep stakeholders informed about any modifications to the administrator’s proposals during the administration process. It allows creditors and shareholders to stay updated and actively participate in the decision-making process to safeguard their interests to the extent possible within the administration proceedings.

These notices are filed with Companies House against the registered company number. All UK company liquidation notices and updates are tracked centrally by Doorda.