Administration (Law)
Law, Common law, Liquidation
978-620-1-47795-7
6201477950
116
2012-08-14
39.00 €
eng
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Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. As a legal concept, administration is a procedure under the insolvency laws of a number of common law jurisdictions. It functions as a rescue mechanism for insolvent entities and allows them to carry on running their business. The process – an alternative to liquidation – is often known as going into administration. A company in administration is operated by the administrator on behalf of the creditors as a going concern while options are sought short of liquidation. These options include recapitalising the business, selling the business to new owners, or demerging it into elements that can be sold and closing the remainder.
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