TITLE

Pack up your troubles

AUTHOR(S)
Hill, Adam
PUB. DATE
May 2011
SOURCE
Commercial Motor;5/19/2011, Vol. 214 Issue 5433, p28
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article discusses the potential abuse for the pre-pack administration program by transportation firms which are threatened by bankruptcy in Great Britain. It notes that the program allows a company with unsettled debts to change into a new entity which will be free of its previous financial obligations. It mentions that the initiative can be implemented by organizations without informing their creditors.
ACCESSION #
61261661

Tags: TRANSPORTATION industry;  DEBTOR & creditor;  BANKRUPTCY;  FINANCIAL management

 

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