13 Administration When Masters Printing filed for bankruptcy, it entered administration. Key information is shown below. As trustee what reorganization plan would you accept?

Assets (£) Claims (£)

Mortgage bonds 10,000 Senior debentures 6,000 Junior debentures 4,000 Going concern value 15,000 Book equity −5,000 Refer to Real World Insight 29.2 for problems 14 to 17.