Disputes between shareholders frequently end up before the courts under two main statutory routes: unfair prejudice petitions (sections 994–996 of the Companies Act 2006) and just and equitable winding-up petitions (section 122(1)(g) of the...
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.
