Home Business Ideas and Opportunities

bcc lending services ltd

Administration in United Kingdom law refers to the main kind of procedure in UK insolvency law when a company is unable to pay its debts. The management of the company is usually replaced by an insolvency practitioner whose statutory duty is to rescue the company, save the business, or get the best result possible. It is the equivalent of Chapter 11, Title 11, United States Code, although with significant differences. While creditors with a security interest over all a company’s assets could control the procedure previously through receivership, the Enterprise Act 2002 made administration the main procedure.

see more at wikipedia

Check More at http://www.futureapp.biz/

No comments yet.

Leave a Reply

Home Business Ideas and Opportunities

Powered by Plug-In Profit Site

Plug-In Profit Site