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Brainer
"Go into bankrupt" vs "Go into adminstration"
Is there any difference between these expressions?
Example:
If it cannot find extra funds, the company will go into administration / bankrupt.
2014년 7월 5일 오전 2:42
답변 · 6
1
I provided most of my answer as comments to the answer provided by GuideDogSaint. However, I should point out that "bankruptcy" and "administration" are NOT synonyms. The options are therefore:
(1) If it cannot find extra funds, the company will go into administration.
(2) If it cannot find extra funds, the company will go into receivership.
(3) If it cannot find extra funds, the company will go into bankruptcy.
(1) and (2) are equivalent; "administration" and "receivership" being (AFAICT) synyonyms.
"Bankruptcy" is more of an umbrella term that includes the concept of "administration/receivership" but is not synonymous with those two terms.
2014년 7월 5일
1
Note: the term is "to go into bankruptcy", not "to go into bankrupt". "Bankrupt" is the adjectival form, so you can say "to go bankrupt" or "to be bankrupt", but not "to go into bankrupt".
Anyway, I'm no expert on the legal definitions of them, but basically "to go bankrupt" means to file for bankruptcy if you cannot pay your debts. Then there is the term "insolvency", which is slightly different. The term "to go into administration", however, refers to putting your company under someone else's control instead of liquidating the assets of the company (i.e. selling everything).
2014년 7월 5일
You go bankrupt, not "into".
Going into administration means that an administrator takes over from management to try to find a way to keep the company going. Going bankrupt tends to mean the company will stop trading. This might be different in the USA.
2014년 7월 5일
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Brainer
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