Continuing our series of basic informative articles/insolvency series Philip Ridgway Barrister in the third of three articles discusses the basics of insolvency law as it might affect a receiver
The introduction of the new administration procedure by the Enterprise Act 2002 which came into force on 15 September 2003 was meant to sound the death knell of administrative receivership. Administrative receivership had become perceived as a way of banks 'pulling the plug' on ailing companies and taking their money with no thought as to whether there was a viable business which could be saved. The administration procedure was meant to be an instrument of the rescue culture;...
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Continuing our series of basic informative articles/insolvency series Philip Ridgway Barrister in the third of three articles discusses the basics of insolvency law as it might affect a receiver
The introduction of the new administration procedure by the Enterprise Act 2002 which came into force on 15 September 2003 was meant to sound the death knell of administrative receivership. Administrative receivership had become perceived as a way of banks 'pulling the plug' on ailing companies and taking their money with no thought as to whether there was a viable business which could be saved. The administration procedure was meant to be an instrument of the rescue culture;...
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