Alt To Insolvency

Question 1

Receivership

Answer 1

C taken over co fixed assets, appoint r to take charged assets and sell off. Dont need to prove insolvency. R duty to C

Question 2

Restructuring plan

Answer 2

Allow co to restructure debts with sanction of court. Approval by atleast 75% unsecured debtors

Question 3

Administration

Answer 3

Enable admin to run reorg and or sell co as going concern
Can go into admin by court hearing or filing to court
Granted if likely to give better result to C

Question 4

CVA

Answer 4

Rescue co - process started by D. Make written proposal to C & nominate IP to supervise. 75%+ of unsecured C must give consent to implementation

Question 5

Moratorium

Answer 5

D runs business
Can be sought whole co seeks other alts. Court order halts actions to enforce rights.
D appoint IP to oversee co. affairs & ensure results of co as going concern

Question 6

Liquidation

Answer 6

Assets sold to pay off co debts and co ceases to exist