In a case which is the first of its kind and has implications for companies of all sizes, a small interior design company has been convicted under ‘failure to prevent bribery’ legislation. The court was told that a former director of...
Administration is a formal insolvency procedure whereby an insolvency practitioner is appointed by either the directors, the company or the holder of a qualifying floating charge (usually the bank or other financial institution).
An administration usually allows the business to continue trading throughout the process and provides protection against any enforcement action taken by creditors.
