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Administration

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Sink or Swim: Bolton Wanderers in Administration

If relegation from the 2018/19 EFL Championship wasn’t bad enough for Bolton Wanderers’ fans, then starting next season in League One with a 12-point deduction will be. That is the consequence Wanderers will have to face though, having appointed administrators on Monday 13 May 2019 following the presentation of a Winding-Up Petition by HMRC. However, […]

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Hands Off!

Recently, two longstanding high street brands, BHS and Austin Reed, have gone into administration. In addition to the 12,000 or so employees whose jobs are at risk there are also hundreds of suppliers who may receive only a fraction, if any, of the value of the goods which they have supplied to those two firms. […]

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Battle GAME: Court of Appeal makes a big decision of when administrators must pay rent

A decision has been handed down from the Court of Appeal in the case of Game Station (Jervis v Pillar Denton). The decision granted landlords Land Securities, British Land, Hammerson and Intu the right to recover rent from administrators that operated a retail business as a going concern whilst a buyer was sought despite the […]

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Landlords and Administrators- A continuing tension?

Since the Goldacre decision in 2009, the law has been clear that the rents and service charges falling due whilst a company is in administration (and is occupying premises for the benefit of the creditors), will be treated as an expense of the administration and thus likely to be paid ahead of creditors – provided […]

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Pull the other one

Historically, companies have often entered into liquidation far too quickly without considering the alternative methods available. One alternative to liquidation available to corporate entities is to propose a Company Voluntary Arrangement (CVA) to its creditors. A CVA is a written agreement dealing with the financial affairs of the company, which binds all the relevant parties […]

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Rangers go into Administration

Administration allows for the reorganisation of a company or the realisation of its assets. It usually follows soon after a company becomes insolvent. The process takes place under the protection of a moratorium, which prevents creditors from enforcing their claims against the company. When a company enters administration, an insolvency practitioner is appointed as the […]

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