59 Overview of administration and administrative receivership

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

59 Overview of administration and administrative receivership

| Commentary

In view of the unlimited transitional period in relation to appointments by the holders of qualifying floating charges¹, it is still (though in view of the lapse of time now largely theoretically) necessary to consider both the pre-Enterprise

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C: ADMINISTRATION

60 Relationship to a ‘rescue culture’

61.1 Voluntary arrangements

61.2 Compulsory and voluntary winding up

61.3 Administrative receivership

62 Practical objects of administration

63 Pre-administration costs

64 Insolvency

65.1 Overview

65.2 First object: rescuing the company as a going concern

65.3 Second object: achieving a better result for the company’s creditors as a whole than would be likely if the company were wound up (without first being in administration)

59 Overview of administration and administrative receivership

59 Overview of administration and administrative receivership

Continue reading

C: ADMINISTRATION

60 Relationship to a ‘rescue culture’

61.1 Voluntary arrangements

61.2 Compulsory and voluntary winding up

61.3 Administrative receivership

62 Practical objects of administration

63 Pre-administration costs

64 Insolvency

65.1 Overview

65.2 First object: rescuing the company as a going concern

65.3 Second object: achieving a better result for the company’s creditors as a whole than would be likely if the company were wound up (without first being in administration)

65.4 Third object: realising property in order to make a distribution to one or more secured or preferential creditors

66 Is a court application necessary?

67 General court procedure in insolvency

68 Particular procedure in administration

69 Who may apply?

70 Evidence in support of application

71 Independent statement

72 Filing and service of application

73 Unsecured creditors

74 Time and mode of service

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59 Overview of administration and administrative receivership

59 Overview of administration and administrative receivership

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