Re-invigorating corporate rescue

Reviews the effectiveness of the UK Government's corporate rescue reforms, highlighting key provisions of the Enterprise Act 2002, concerning the enforcement of floating charges through the administration process and the ring fencing of a proportion of a company's net floating charge proceeds for unsecured creditors. Evaluates the impact of the reforms on banks, unsecured creditors, administrators, directors and the courts themselves, in terms of: (1) substantive and procedural rights; (2) whether incentives for supporting rescue efforts under the new regime conform to legislative intentions; (3) general attitudes to rescue; and (4) the effect of limitations on expertise or resourcing. Discusses the possible future development of the corporate insolvency process.