HM Court Applications are applications to the Courts where companies have applied for a moratorium. The moratorium gives struggling businesses a formal breathing space to pursue a rescue plan. It creates a moratorium during which no legal action by creditors or any other parties can be taken against a company without leave of the court.
Companies with this negative information will be shown on the banner at the top of a company report, where you can click on View More for more details.
Our analysis has found companies are applying for the following notices.
Companies - Application - Notice of Intention to appoint an administrator
Companies - Application - Notice of Appointment to appoint an administrator
Companies - Application - Administration Application
Companies - Application - Company Voluntary Arrangement
This data acts as an early indicator of a company’s potential failure and in many cases this information is not available in the public domain. From our analysis, in many cases the data is being delivered up to 2 weeks prior to any official notices being published at the Gazette / Companies House. This will give our users time to prepare and give them a greater insight into the business and the potential notice at stopping new / further credit terms before an official insolvency notice is filed.
An example of these notices is below. The company filed a Notice of Appointment to appoint an administrator on January 7th 2022, Once this was received, we immediately moved the company’s score to non-creditworthy. This notice was received almost 2 weeks prior to the official notice was published in the Gazette on January 18th 2022.
Chas Smith Group Limited - 06882760