The object of this Part is to provide for the business, property and affairs of an insolvent company to be administered in a way that:

(a)

maximises the chances of the company, or as much as possible of its business, continuing in existence; or

(b)

if it is not possible for the company or its business to continue in existence—results in a better return for the company's creditors and members than would result from an immediate winding up of the company.