Business Recovery and Insolvency Practitioners
An Administration Order is a Court
Order placing a company that is, or is likely
to become, insolvent under the control of an
administrator following a petition by the company,
its directors or a creditor. The purpose of
an Administration Order is to preserve
the company's business, allowing a re-organisation
to ensure the most advantageous realisation
of its assets whist protecting it from action
by its creditors.
Out Of Court streamlined Administration
The Administration procedure is intended
to protect financially distressed companies
whilst arrangements are formulated to salvage
the business or pursue a better return to creditors.
The"Out of Court streamlined Administration"
procedure has been introduced within the Enterprise
Act 2002.
For details on terms used pleased
see our glossary.
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Out of Court streamlined Administration
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