Not necessarily a stand-alone remedy in itself, administration is a collective corporate rescue which temporarily ring-fences a company to give it time to fix its financial problems. The moratorium it provides stops creditors seizing goods or taking legal action. If cash problems are temporary, the ring-fence can be lifted. Some companies exit administration by a Company Voluntary Arrangement (CVA) or Creditors’ Voluntary Liquidation (CVL). Administration can also help an insolvency practitioner realise assets in an more orderly manner where a business is going to cease to trade.

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