With increased public awareness that a notice of intention to appoint administrators (NOI) has been filed, we are finding that third parties – usually the company’s creditors, suppliers and employees – are disrupting the administration process in a way that can cause significant risks to a company’s ability to continue trading, the overall value of its business and its ability to be rescued as a going concern.
In today’s environment, when knowledge that an NOI has been filed is shared via social media and reported in the press almost immediately following the NOI being filed at court, are concertina administration appointments the answer to mitigating potential disruption?
Our latest insight highlights the issues we see in practice that can disrupt administration appointments, and considers whether and when shortening the appointment process might be an option.