The firm will likely be placed under court receivership, which would install trustees and freeze all company assets. |
They want to know that the company that they deal with today will not go into receivership tomorrow. |
It will amend the Companies Act to make redundancy payments a preferential claim when a company goes into liquidation or receivership. |
When a company goes into receivership, a receiver is appointed to try to keep the company running. |
Detroit Aircraft's frantic efforts to regain stability were unavailing and, in October, the corporation floundered into receivership. |
The group went into receivership on 27 August and Mr Wright was made redundant on that date. |