Re Parmeko Holdings Ltd: creditor apathy and standard proposals
By Helen Fyles
In Re Parmeko Holdings Ltd, the court had to consider whether to give directions to administrators where creditors had failed to vote on their proposals. The court also considered the terms of administrators’ standard proposals.
In Re Parmeko, the proposals provided for the administrators to continue to manage the company’s business and affairs in accordance with the statutory purposes, to make payments to secured/preferential creditors and to seek one of various exit routes and for discharge from liability and remuneration.
These proposals were very widely drawn and permissive in style, and largely reflected the powers already given to administrators by statute…
Click on the link below to read the rest of the Mills & Reeve briefing.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from The Lawyer
Analysis from The Lawyer
The trend for unbundling legal work is advancing through the law firm ranks but there is still resistance in some quarters - namely in-house. We asked why