TL;DRAbstract
The Cork Committee, as we have seen, placed emphasis on the value of insolvency processes in providing ways of rescuing troubled companies, as well as in realising corporate assets. Its recommendations led to the procedures governing administration orders and company voluntary arrangements (CVAs) that are set out in the Insolvency Act 1986. This chapter examines the administration regime, considers how this tends to satisfy the values set out in chapter 2, assesses potential reforms and reviews the philosophy underpinning modern administration.
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The Cork Committee, as we have seen, placed emphasis on the value of insolvency processes in providing ways of rescuing troubled companies, as well as in realising corporate assets. Its recommendations led to the procedures governing administration orders and company voluntary arrangements (CVAs) that are set out in the Insolvency Act 1986. This chapter examines the administration regime, considers how this tends to satisfy the values set out in chapter 2, assesses potential reforms and reviews the philosophy underpinning modern administration.
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