Administration

With insolvency numbers at historically high levels and with many economists predicting further rises in the near future, a practical understanding of insolvency law is essential for all practitioners. Insolvency provides not only a multitude of problems, but also business opportunities for you and your clients, whatever your area of specialism. The Insolvency Law Series brings you a set of clear, step-by-step guides to the main statutory insolvency procedures. Written and edited by Vernon Dennis, a leading expert in insolvency law, each book offers: * a thorough and chronological analysis of a specific insolvency procedure from pre-commencement considerations to its conclusion * the key advantages of the process over others that may be available * a perspective from both the debtor's and creditors point of view * guidance on how the rights and interests of third parties are affected by the process * practical advice on how to avoid common errors * checklists, flowcharts, illustrative diagrams and step by step advice on how to complete key forms. Administration, the first in this series, focuses on corporate rescue through the appointment of an administrator.
This book provides comprehensive coverage of the much reformed administration procedure. Administration is now by far the most commonly used process to effect business rescue by reconstruction, refinance and/or sale of the insolvent company's business and assets. The book discusses current developments and issues including the: * effectiveness of the procedure in achieving business rescue compared to company rescue * pros and cons of using the administration process * reasons for and the consequences of the rise in pre-pack administration * recent key judicial debate over the costs and expenses of administration * treatment of creditors and third parties during the administration process * future of regulation in this area of law. The book will prove invaluable to those advising companies, directors, creditors, customers and suppliers to businesses who may be initiating and/or considering the initiation of an administration process.