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KPMG Partners appointed administrators of Monarch

Senior Associate, Nat Young, comments in Accountancy Age on what's next for Monarch's assets. 

Nathanael Young, senior associate at law firm SA Law, commented: “Administration is often used to assist insolvent companies, to enable them to restructure or realise their assets. By entering administration, the company benefits from a statutory moratorium, which means that creditors cannot take enforcement action against them.”

Young explained that an insolvency practitioner would try to “rescue the company”, and if that failed, would attempt to “obtain a better result for creditors than if the company had gone into liquidation.”

To read the full article on Accountancy Action, please click here.

© SA LAW 2017

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CONTACT NAT

If you would like more information or advice relating to this article or a Commercial Litigation & Dispute Resolution law matter, please do not hesitate to contact Nat Young on 01727 798034.