INDUSTRY UPDATE
MQA GOES INTO ADMINISTRATION—BUT WHAT DOES ITS FUTURE LOOK LIKE? Jim Austin MQA critics were gleeful when the news broke that the company’s South Africa–based main investor was looking for an exit. MQA would be going into “Administration,” the UK version of what we in the US call Chapter 11. The analogy to US law may not be precise, but in the US, Chapter 11 occurs when a company is unable to process its debts. The debtor typically remains in control of its business operations, subject to the oversight and jurisdiction of the court. Typically, the parties in a Chapter 11 bankruptcy seek a reorganization plan that, if agreed upon by the parties and the court, allows the business to continue as a viable concern. In case you haven’t kept up: MQA (Master…