I've seen this mentioned a couple of times now with regard to administration. Does this mean that we go in a sort of temporary admin from day 1, with two weeks to sort things out before going into full administration?
I've seen this mentioned a couple of times now with regard to administration. Does this mean that we go in a sort of temporary admin from day 1, with two weeks to sort things out before going into full administration?
my understanding is that to allow confirmation of administrators there is a 14 day period in which that happens. During that period the administrator initially appointed can not be held responsible for any costs incurred by the company in administration. So effectively costs are suspended for 14 days. After that period the administrator must accept personal responsibility for any costs
my understanding is that to allow confirmation of administrators there is a 14 day period in which that happens. During that period the administrator initially appointed can not be held responsible for any costs incurred by the company in administration. So effectively costs are suspended for 14 days. After that period the administrator must accept personal responsibility for any costs
my understanding is that to allow confirmation of administrators there is a 14 day period in which that happens. During that period the administrator initially appointed can not be held responsible for any costs incurred by the company in administration. So effectively costs are suspended for 14 days. After that period the administrator must accept personal responsibility for any costs
So, hypothetically, if SISU decide that they don't want to continue with the administrator that they originally nominated, within the 14 day period, and appoint a different administrator, does the 14 day period start again? Possibly to have the formal confirmation take effect after March 28th?
It also means that Stuart Linell was wrong again as he suggested the move from the shop / offices was because the administrator would be responsible with immediate effect, and would have instructed the move