Blue Valkyrie
Not seen such Bravery!
I believe we didn't go into administration because it didn't exist when we practically went under.
It was winding up orders and liquidation as the only options.
The albion allegedly did make a small number of business deals with creditors to reduce payments. It was probably a reduced payment or no payment when the albion went bust. It's not unusual in business to negotiate these deals, if you can strike them.
Administration agreements are when all creditors vote on accepting a set %age of the debt being paid back. You have a vote, which is imposed on you, you have no choice if you don't want the deal. The difference is obvious.
It was winding up orders and liquidation as the only options.
The albion allegedly did make a small number of business deals with creditors to reduce payments. It was probably a reduced payment or no payment when the albion went bust. It's not unusual in business to negotiate these deals, if you can strike them.
Administration agreements are when all creditors vote on accepting a set %age of the debt being paid back. You have a vote, which is imposed on you, you have no choice if you don't want the deal. The difference is obvious.