Re: Here's a thought...
"Really - care to articulate one"
Theoretical company A has gone into administration with total debts of £10Million. Even split £5M each secured and unsecured. Theoretical administrator B has a potential buyer in theoretical consortium C who are willing to buy the majority of the assets for £8M, totally paying off the secured debt and leaving a good chunk for the unsecured portion if they can pull together the funding to buy.
Into this scenario comes Fatcat D who makes an offer of £5.1M for only the very best assets of the dead company - but he is willing to sign on the bottom line today. This deal will collapse the value of any remaining assets as the best have been stripped off, but it will settle all secured amounts while leaving the unsecured creditors scrapping over change. Both deals have merit, and although C does not currently have the funding it is not unrealistic that they could get it within say a week. Is there anything to stop B taking the immediate, less work option that screws over the unsecured creditors?