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Title: "Reforms made by the Enterprise Act 2002 to the laws regarding administrative receivership, administration and preferential debt-holding created a fairer and more efficient corporate insolvency regime." Discuss.
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October 24, 1999 |
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On the other hand, the prohibition on administrative receivership is not as far-reaching as it seems to be because this provision only applies to those floating charge creates after the coming into force of the new legislation, there are still many of those holding "old" floating charge and they are not affected by the new provision...
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Therefore the fairness it brings is not very significant at the moment, but it should become more significant as time passes.
Regarding to administration, there are a few key changes by EA 2002. Firstly, the purpose of administration has been affected...
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1. ***Between Select Statement***
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