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 the order is to preserve the company’s business, allow a reorganisation or ensure the most advantageous realisation of its assets, whilst protecting it from action by its creditors.
The administration of the insolvent estate of a deceased debtor.
A County Court process permitting an individual with modest debts to pay off by instalments. No licensed Insolvency Practitioner is involved.