Insolvency Practitioner Administration

Insolvency Practitioner Administration is a process where an independent expert, known as an Insolvency Practitioner, is appointed to manage a financially troubled company. The main goal is to rescue the business or maximize the value for creditors if it cannot be saved. The practitioner will assess the company's financial situation, propose a plan to restructure or sell the business, and ensure fair treatment of creditors. This process provides legal protection from creditors while efforts are made to resolve the financial issues, giving the company a chance to recover or wind down responsibly.