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English corporate insolvency law is being reformed. Enterprise Act 2002 (EA 2002), which came into force in September 2003. It is designed to ‘facilitate company rescue and to produce better returns for creditors as a whole'. In order to achieve these goals, it has brought some most significant changes to the corporate insolvency regime regarding to administrative receivership, administration and preferential debt-holding. Before going into any further, we have to aware that fairness is a rather subjective concept and the changes may have different effects on different parties. In the following paragraphs, I am going to discuss the impact of the reform on creditors especially in terms of fairness and efficiency and regards to administrative receivership, administration and preferential debt-holding respectively. To some extent, the reform does make the regime fairer and more efficient, but there are some concerns as well.

With respect to administrative receivership, the EA 2002......

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Approximate Word Count: 1254
Approximate Pages: 6 (250 words per double-spaced page)

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