Administration order

An administration is a court procedure placing a company or partnership that is, or may become, insolvent under the control of an administrator following an application by the company, its directors, partners, a creditor or a secured creditor with a floating charge.

The objectives of an administration are either

1. the rescue of the company as a going concern, or
2. achieving a more advantageous realization of assets for the benefit of creditors than would be likely in liquidation, or
3. to enable payment to the secured or preferential creditors.

The objectives are listed in the order they must be considered by the administrator and must always take into account the interests of all the company’s creditors.

If you would like some more information on the administration order services we provide, please contact corporate.insolvency@aabrs.com