ACCA LW ^Eng Syllabus G. Insolvency Law - Explain Administration - Past Papers ^{2 / 2}

In the context of companies in financial difficulty, explain the meaning, effect and rules relating to the operation of administration as an alternative to winding up.

In relation to company law explain:

(a) the grounds on which an action for compulsory winding up may be taken under the Insolvency Act 1986;

(b) the procedure to be followed in, and the consequences of, an action for compulsory winding up.