Administration (including 'Pre-Packs')
Administration is a useful tool to help save part or all of a business. It is typically instigated by Directors or Shareholders, but can also be at the request of a creditor or debenture holder, usually a Bank. Administration is used when a company is insolvent and maybe facing serious threats from creditors. It offers a degree of protection from creditors, but it must be entered into with a purpose.
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