Examinership

Imagine you and your friends are playing a game together. Sometimes, one of your friends may not be very good at the game and they might need some help. That is where examinership comes in.

Examinership is like when your friend needs some help to keep playing the game. When a company is struggling to stay in business, they can ask a special person called an examiner to come and help them.

The examiner's job is to look at the company and figure out if it can be saved or not. They do this by looking at things like how much money the company owes and how much money it is making.

If the examiner thinks the company can be saved, they will come up with a plan to help it. This plan might include things like borrowing money to pay off debts, finding ways to make more money or cutting costs.

Once the examiner has a plan, they will take it to a special court where a judge will decide if it is a good plan or not. If the judge thinks it is a good plan, then the company can keep on operating and try to get back on its feet.

If the judge does not think the plan will work, then the company may have to stop trading and go out of business. But at least they tried their best to keep playing the game.