Hi guys, That’s me back from my amazing holiday!
Damn! It’s good to get back into the swing of things, however! The weather up here in Scotland is soooooo cold!
I hope i didn’t miss out on too much. I will be looking at all my emails shortly. Thanks for all the support guys. My next post will be on the controversial topic of…. BREXIT!
Here is a little teaser of what I will cover:
The Enterprise Act 2002 reformed insolvency law to provide the legal milieu for the fostering of a rescue culture. Critically evaluate how the new Administration regime was redesigned to assist financially distressed businesses
The reform of administration orders under the Enterprise Act 2002 has gone a long way in aiding companies in financial distress, one which with foresight of the banking crisis of 2007 was very helpful indeed. The Enterprise Act 2002 was designed to facilitate company rescue in order to produce better returns for creditors and “even up the playing field” a bit in respect of the competing interests of creditors. In order to assess how the reform has assisted financial distressed companies, it will be necessary to evaluate three main areas. Firstly, in order to establish why reform is needed, the situation prior to the 2002 Act will be analysed, focusing on the Insolvency Act 1986. Secondly, one will detail what was reformed and what significant changes that have been brought forward as a result. Finally, one will assess how effective the Enterprise Act has been in helping those companies in financial difficulty and whether or not there are any weaknesses and conclude whether said reform was successful in its attempts to assist financially distressed businesses.