31 March 2020
In the current economic climate many of our clients are experiencing situations they’ve never had to deal with. We’ve put together the following guide to help answer the most frequently asked questions we receive.
What’s the difference between a liquidator and an administrator?
Liquidators and administrators are qualified insolvency practitioners who preside over a particular form of insolvent scheme set down by statute.
Typically, an administrator will be running the business (at least temporarily) before selling it as a going concern. Conversely, a liquidator will usually not be trading – he will instead be selling assets and closing the business down before making distributions to the various creditors. It is not unusual for a company to transition from administration to liquidation and for the same insolvency practitioner to change hats and stay in office.
To read the full insight please click 'download files'.