Companies that go into administration

#1

Hi
I would like some help on this… I am wondering how accountants do advise the companies that go into administration?
I know that they can advise them whether to sell or not, find an potential buyer for them etc … but how do they actually do that?

Thank you :slight_smile:

#2

I think, accountants try to protect the company from being looted by debtors and other stakeholders. If a company files for bancruptcy, first thing is to make sure that interested groups get their portion of interest in duely manner. So their job is to work out asset “give away” plan. there should be more detailed info on the net.