Commentary

75.3 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)

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

75.3 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)

| Commentary

75.3 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)

Most practical outcomes of administrations will fall within this object, including—in addition to a sale of the business (including a pre-pack) or a hive down—many piecemeal realisations. The achievement of a more advantageous realisation is closely bound up with the powers of an administrator, which are wider than those of a liquidator, thus allowing him more scope to achieve this object1. In addition, there is the layman’s perception that a company

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