Bankruptcy Administration

Bankruptcy administration refers to the legal process that manages the affairs of a company or individual facing insolvency. When a business cannot pay its debts, an administrator is appointed to oversee its operations, assess assets, and determine how to repay creditors. The goal is to either rescue the business for a potential recovery or ensure an orderly liquidation of assets. This process aims to protect the interests of creditors while allowing the entity to address its financial difficulties in a structured manner, ultimately working towards a resolution that minimizes losses for all parties involved.