Chapter VCM55120
| Published date | 09 March 2016 |
| Record Number | VCM55120 |
| Court | HM Revenue & Customs |
When a company goes into administration or receivership its directors lose most of their powers. The person who is able to exercise those powers (usually an ‘administrative receiver’) may act in a way which would cause the company to cease to satisfy one or more of the conditions described at VCM55090 or VCM55110 - for example, they may have to sell the company’s assets, with the result that the company is unable to carry on a trade.
Any failure to satisfy one of those...
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