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Administration


BOOK REVIEW ADMINISTRATION By Vernon Dennis ISBN: 978-1-85328-878-4 The Law Society www.lawsociety.org.uk COPING WITH INSOLVENCY– A GUIDE FOR EVERYONE INVOLVED WITH A FLOUNDERING BUSINESS An appreciation by Phillip Taylor MBE and Elizabeth Taylor of Richmond Green Chambers Rescuing an insolvent company is most commonly brought about by the process of administration — hence the one-word — and very apt — title of this book. The first in the Law Society’s Insolvency Law Series, Administration discusses in detail the current developments and issues pertaining to the now much reformed administration procedure. Introduced in 1986, the mechanism of “administration” ‘was designed to complement receivership, not replace it,’ says the author. Administration is described as the process by which an insolvent or potentially insolvent business can or might be rescued by reconstruction, refinance, and/or sale of the insolvent company’s business or assets. Author, Vernon Dennis — an expert in insolvency law and corporate recovery and reconstruction — tactfully does not assume prior knowledge of, or expertise in administration on the part of the reader. The basics of administration are lucidly explained before its intrinsic complexities and thorny issues are dealt with, including the effectiveness of administration… its costs and expenses… and the notably vexed question of how creditors and third parties are treated during the administration process. Certainly creditors

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