WHO DEVELOPS THE REORGANISATION PLAN FOR THE
COMPANY?
Committees of creditors typically negotiate
a plan call a Proposal with the company to
relieve the company from repaying part of
its debt so that the company can try to get
back on its feet. This will usually be drafted
by an IP.
After the creditors work with the company
and the Administrator to develop a plan, the
Court may order that the plan can be implemented.
This takes a few months or a few years.
|
