| Commentary

143 Position under previous law

| Commentary

9: TERMINATION OF ADMINISTRATION

143 Position under previous law

The original (1986) legislation was broadly speaking drafted on the assumption that many companies would leave the administration procedure as going concerns, an assumption which did not, on the whole, prove valid. Any distribution to creditors was a matter, which if it was provided for at all, had to be provided for in the proposals approved by creditors. There was a relatively inflexible procedure for the termination of administration, which contemplated that the company would proceed to a compulsory winding up if a dissolution of the company was appropriate. It was difficult

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