Volume 13, Issue 4 (2009)
CLR 2009, 13(4): 177-201 |
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- -, - -, - -. Temporary Administration of Failed Corporate Entities (in Iran and England Law). CLR 2009; 13 (4) :177-201
URL: http://clr.modares.ac.ir/article-20-4927-en.html
URL: http://clr.modares.ac.ir/article-20-4927-en.html
Abstract: (10143 Views)
In most modern countries, there are some alternatives to liquidation for individual or corporate insolvencies, which their main purposes are to rescue businesses in difficulty or to give more protection to creditors in order to achieve better results for them.
In English law, one of the corporate alternatives to liquidation (winding-up) is “Temporary Administration”, which commences on the appointment of an insolvency practitioner (administrator) by the court or out-of-court.
Administration proceeding has come to English law since 1985 and after the enactment of Enterprise Act 2002, it has played the main role in restoring companies to profitable trading. Also, it is one of the best mechanisms for protection of unsecured creditors’ benefits.
In Iranian law, “temporary administration” is not an alternative for liquidation (winding-up) and its conception and regulations are more and less different from Those of English law.
Received: 2008/11/8 | Accepted: 2009/02/14 | Published: 2010/02/20
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