How quickly can you do it?
From within two days but more realistically within one to two weeks.
The quicker the directors act, the quicker the procedure can take place.
Directors need to be proactive in their decision making and actions but there is usually real pressure to get things underway quickly once administration is identified as the best insolvency procedure to use in the circumstances.
Realistically the directors will work together with their chosen IP to form a strategy regarding the proposed administration timescales and on average it will usually be two weeks from the initial meeting with the IP to their actual appointment taking place.