Commentary

131 Power to dispose of assets, business and property without holding a creditors’ meeting

BANKRUPTCY AND INSOLVENCY (CORPORATE INSOLVENCY) vol 3(3)
| Commentary

131 Power to dispose of assets, business and property without holding a creditors’ meeting

| Commentary

131 Power to dispose of assets, business and property without holding a creditors’ meeting

It is often the case that the best and possibly the only chance of obtaining a substantial realisation for creditors in an administration is a sale of the business as a whole, on or shortly after entry into administration. In such circumstances, there may be difficulties in formulating a proposal to creditors and, more particularly, in putting the proposals to a meeting of creditors, which takes some time to organise1.

After considerable variation in the authorities, it became settled under the original law that an administrator might

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