Page 27 - Patisserie Valerie Teaching Note

Role of the Administrators

The role of the administrators in the short term is to try and

secure the future of some part of this business, save jobs,

and realise funds for the credit of the company.

“The only impact of the fraud in the short term is trying to
understand what a true position the trading business is for the

purpose of selling it. Once the business is sold, then the attention
falls on the administrators or subsequently appointed liquidators,

who will turn to how this has happened and whether any party is
culpable. If they are culpable the question is whether any action

should be taken to recover funds to creditors of the company.” (1)

Patisserie Holdings: Route to Disposal