An Insolvent Administration Order
The Insolvency Act 1986 introduced, for the first time, this legal process to protect a struggling company. It applies to companies with some hope of recovery and protects them from its creditors, whilst a restructuring plan is formulated.
The administration process was significantly changed with the introduction of the Enterprise Act 2002, which allowed easier access to this process for companies in financial or other difficulties
Company administration may be sought by a company, its directors and/or partners, or by one of its creditors. Or by the holder of a qualifying fixed and floating charge over the company’s assets (like a Bank for example).
For more information, read our two blogs when is an administrative order required by a company and what is administrative receivership
We will advise impartially, in confidence and free of charge on administration and insolvent admin orders.
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