the point of administration is not to sell the debts at a discount

it is to rescue the business as a going concern. It is the job of the appointed administrator to maximise the amount of money paid back to creditors, not sell it off cheaply.

the bloke could have waited until southampton went into admin to purchase them as they would be cheaper to buy when in admin than sold off as a full going concern.

I don't know enough about southampton's corporate structure (ie all the holding companies etc) to know for sure but this is what i think as an accountant. they certainly had it all set up to try to con the system, i can tell you that much.

Posted By: Tony Martin, Feb 17, 13:27:51