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Rescue: Administrations and CVAs

Company rescue can be achieved within the framework of the Insolvency Act 1986. One powerful approach is to use the Administration route and the other is to propose a CVA to the creditors. Whilst under the former procedure, control is handed to an Insolvency Practitioner, the CVA allows control to remain with the directors, who are free to develop and manage a strategy for the business going forward.

Please note that the above is provided for illustration purposes only and comprises a short view of extremely complex insolvency and other legislation. This is a complicated area and specific advice must be sought before undertaking any course of action or before refraining from any course of action. Gore and Company takes no responsibility for any loss incurred to or by any person who either acts or refrains from acting on the basis of the above or of any other item published on this website. The above note may not be reproduced without the prior written consent of Gore and Company.

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