Our perspective on administration is different to most, as we believe in an inclusive approach, working with directors and management to achieve a pre agreed strategy.
Unless there is evidence of serious wrongdoing, we recognize that in most cases, the directors are able to contribute to the process. Often they hold significant intellectual capital, have a vested interest in the outcome and are motivated to want to work with us.
An administrator’s primary responsibility is to achieve the best outcome for all stakeholders, which for us includes directors, creditors, customers, and employees.
We include directors in our definition, as we believe that most directors are honest and wish to fulfill their responsibilities, avoid prosecution for misdemeanors and usually preserve their ability to continue in business – all of which is in keeping with the enterprise culture, the government policy that led to the design of the administration procedure.
We have adopted the best of a quasi American approach to Administration. In the USA, the inspiration for the ‘enterprise culture’, existing management can be made responsible for implementing the recovery strategy, overseen and supervised by the court. In our approach to Administration, we fulfill the role of the court. Risk management is part of the process, putting sensible controls in place to ensure that we are able to protect the interests of third parties, but without loosing sight of our primary responsibilities.
For a refreshing approach to Administration, contact one of our experts.