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Why has Farepak moved from Administration to Liquidation?

April 26, 2017Administration Liquidation Moved

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Why has Farepak moved from Administration to Liquidation?

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The Joint Administrators have carried out the limited investigations which they are allowed to by law. Now that Farepak is in Liquidation, the Liquidators have greater powers to investigate the circumstances surrounding the failure of Farepak and can take action against any parties which may increase the money available for creditors. A Liquidator can also agree unsecured creditor claims and pay a dividend to unsecured creditors.