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Our team have considerable experience of acting as administrators, undertaking both Accelerated M&A and concluding pre-pack administrations.
We will evaluate your position and advise you of appropriate actions. We apply the highest operating standards and ashere to best practice in all cases.
As administrator our objective is to rescue the company as a going concern, or achieving a better result for the company's creditors as a whole than would be likely if the company were wound up (without first being in administration), or realising property in order to make a distribution to one or more secured or preferential creditors.
We must perform these functions with the first of these objectives unless it is not reasonably practicable to achieve that objective, or that the second objective would achieve a better result for the
company's creditors as a whole.
The third objective applies only if it is not reasonably practicable to achieve either of the first two objectives, and such action does not unnecessarily harm the interests of the creditors of the company as a whole.
Pre-Pack Administration
Pre-pack administrations can often deliver the best results for creditors. Pre-packs are where the sale of the business, and/or assets, of an insolvent company, are arranged prior to the onset of formal insolvency and the sale is effected immediately upon appointment of an Administrator.
In relevant circumstances this can coincide with an Accelerated M&A process. Pre- packs are often considered in the case of owner-managed businesses or those where most of the value in the business may reside in key staff or assets that may leave or diminish in value in the event of a formal insolvency.
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