Administration is not a dirty word. The current economic climate has prompted more media reporting of household names facing the prospect of, or actually going into, administration. But whether the household name is a retailer, a football club or a property company, administration is - in essence - meant to be a reconstructive procedure, where businesses that have failed to maintain a solvent trade may have the chance to be rescued and restructured. It is therefore with a more positive emphasis, rather than one that is parasitic on media prophecies of doom, that this session looks at what administration is, why it is important to be aware of it and the legal and commercial drivers for administration.
Whether a business emerges from the cocoon of administration, as market watchers (or even television watchers) will have no doubt seen in recent months, may sometimes be a pious hope, but one thing is clear: administration is at least designed to be a potential method of commercial rescue from insolvency.
The programme deals with the practical, legal and commercial issues of administration with which viewers may become engaged, from the experienced perspectives of a barrister and insolvency practitioner, respectively, in the field: Mark Watson Gandy (13 Old Square) and Robert Smailes (Shipleys LLP).
About the contributors
Mark Watson Gandy: Mark Watson Gandy is a barrister at 13 Old Square (mwg@13oldsquare.com). Mark practices in insolvency, company and banking law. He is a Visiting Professor at the University of Westminster and one of the editors of the Butterworth's Corporate Law Service. He is a member of the Association of Business Recovery Professionals (R3). Mark is licensed to accept instructions under both the Bar Council's direct access and direct professional access schemes.
Robert Smailes: Robert is a principal at Shipleys LLP - Chartered Accountants and Business Advisors. Robert is an insolvency practitioner and works for financially troubled individuals and companies, so his clients include individuals, businesses, banks and finance houses. His aim is always to save the business or avoid personal insolvency and ensure as few people lose out as is possible. A Fellow of the Association of Business Recovery Professionals, Institute of Credit Management and Insolvency Practitioners Association, Robert is well known for his lectures on insolvency and recovery.
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