Corporate Rescue Essay
These three processes not only operate through different procedures but they are also attuned to the pursuit of different objectives and values, they are subject to different controls and they involve different roles for, and relationships between, the parties affected by corporate rescues.
Three connected processes make up the UK corporate rescue regime: the formal, legal regime, informal approaches and the quasi-formal system, as exemplified by the pre-packaged administration.
To send this article to your Dropbox account, please select one or more formats and confirm that you agree to abide by our usage policies.
If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your To send this article to your Google Drive account, please select one or more formats and confirm that you agree to abide by our usage policies.
These changes were motivated by fairness and efficiency concerns, notably the concern that the UK's administrative receivership procedure was not conducive to rescue outcomes and operated to the detriment of unsecured creditors.
This article discusses the Enterprise Act reforms in the context of wider theoretical debates about the desirability (or otherwise) of secured creditor control of corporate rescue procedures.
If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your ’) Option 2.