9. Corporate rescue and liquidation

Abstract

Each Concentrate revision guide is packed with essential information, key cases, revision tips, exam Q&As, and more. Concentrates show you what to expect in a law exam, what examiners are looking for, and how to achieve extra marks. This chapter discusses the various procedures available to companies experiencing financial difficulties that are so severe that the company’s survival is in jeopardy. It focuses on procedures that aim to help struggling companies (such as administration); help creditors recover monies owed (such as receivership); and commence the process of ending the company’s existence and provide for the distribution of its remaining assets (namely winding up).