Ann: Settlement of Hall Proceeding, page-28

While I understand your concern, once the company moves to Administration, clients are just along for the ride and as long as it is BAU at S&G then there is no reason for clients to run. Same for employees... they will be informed (in a similar way to the recent announcement of the changes within the business) and they will be assured that the path of ownership exchange will not effect their job or their entitlements. The Administrator will have VERY close meetings with the New Lenders and this will basically ensure the positive conclusion of the Administration.

This is not the first time a services business has gone into Administration. (Although, for the record, I find it unlikely that the "no" vote will succeed)

There are only very minimal regulatory headaches. A law firm can still work BAU in Administration. Effectively, there is no change from today as there would be if it was in Administration or if the New Lenders take over. The only way it would be a huge headache is if the New Lenders walk away entirely and write it all off. But that is close to improbably (considering how much they are in for and how much they continue to support SGH). If you have any information as to why there would be regulatory headaches, please share.