Chapter 17 - Corporate Rescue Flashcards
(6 cards)
1
Q
What is administration?
A
A rescue procedure where an administrator is appointed to manage the company and achieve a better outcome for creditors.
2
Q
What is a company voluntary arrangement?
A
A binding agreement with creditors to repay debts over time.
3
Q
What is a moratorium?
A
A temporary legal protection from creditor action while a rescue plan is developed.
4
Q
Quick Hit
Administration
A
Insolvency procedure aiming to rescue the company.
5
Q
Quick Hit
CVA
A
Agreement with creditors to repay debts.
6
Q
Quick Hit
Moratorium
A
Temporary protection from legal action.
