19 Dec Customer Examinerships and Administration
An Examinership arises where a Company obtains the protection of the Court to allow it to trade without the fear of the Bank seeking to wind it up or take other enforcement action.
For a company to be successful in getting an examiner appointed, the Court has to consider a number of matters;
- If the Company has a reasonable prospect for survival.
- If the Company has investors who are ready to invest sufficient sums to enable it survive.
- Will the Company have sufficient working capital to cover the period of examinership and the costs involved in same?