Administration order: Difference between revisions
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imported>Doug Williamson m (Split sentence into two as per Glossary and corrected spelling mistake in realisation) |
imported>Doug Williamson (Correction for debts less than £5k.) |
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''UK | ''UK insolvency law''. | ||
An order of the court made in relation to a company in financial difficulties with a view to securing its survival as a going concern. Or, failing that, to achieving a more favourable realisation of its assets than would be possible on a liquidation or through a voluntary arrangement. | An order of the court made in relation to a company in financial difficulties with a view to securing its survival as a going concern. Or, failing that, to achieving a more favourable realisation of its assets than would be possible on a liquidation or through a voluntary arrangement. | ||
While the order is in force, the affairs of the company are managed by an Administrator. | While the order is in force, the affairs of the company are normally managed by an Administrator. | ||
Revision as of 12:43, 26 January 2017
UK insolvency law.
An order of the court made in relation to a company in financial difficulties with a view to securing its survival as a going concern. Or, failing that, to achieving a more favourable realisation of its assets than would be possible on a liquidation or through a voluntary arrangement.
While the order is in force, the affairs of the company are normally managed by an Administrator.