How to Rescue a Sickly Company - alternatives to winding up

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Winding up is the death of a company, and everybody loses.

Equally, sometimes it may the wisest move, particularly for the directors.

But, short of further capital being injected, or better management, there are other options.

• a moratorium allows the directors time to work out what to do next
• a company voluntary arrangement can marginalise difficult creditors – and is relatively cheap
• a scheme of arrangement can rejig the capital structure of a company
• a reconstruction plan can overrule an objecting creditor
• administration can allow a company to keep its core business going, good for directors, employees and customers

This virtual classroom, replete with the latest case-law, provides a good overview of corporate rescue mechanisms, their benefits and their drawbacks.