| Commentary

72 Practical objects of administration

| Commentary

72 Practical objects of administration

In practice, the intended objects of an administration will usually be one of the following:

  1. 72.1

        A sale of the company’s business as a going concern, by which is meant a sale of the business and its assets without its historical liabilities. In many cases, the sale will be pre-packaged, that is to say agreed upon ‘in principle’ before the administrator is appointed and put into effect immediately after appointment and before a meeting (now decision procedure) of creditors is held to consider the administrator's proposals. ‘Pre-packs’ have attracted some adverse comment not least because,

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