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Encyclopedia > Administration Order

In English and Welsh insolvency law, an Administration Order is a method used to protect a company experiencing short or medium term financial problems from its creditors. A court order is issued that forbids any form of legal or insolvency action without the court's permission.






  Results from FactBites:
 
Administration - Wikipedia, the free encyclopedia (1540 words)
Administration is both an art and a science (if an inexact one), and arguably a craft, as administrators are judged ultimately by their performance.
Administration pendente lite, where there is a dispute as to the person entitled to probate or a general grant of letters the court appoints an administrator till the question has been decided.
Although there are notional similarities between administration and administrative receivership (an outsider takes over control and management of the company from the board of directors), the intent and purpose of each type of insolveny regime are completely different.
CCR ORDER 39 -- ADMINISTRATION ORDERS (2078 words)
The question whether an administration order should be made, and the terms of such an order, may be decided by the court officer in accordance with the provisions of this rule.
Where the court has directed that an administration order shall be subject to review, the court officer shall give to the debtor and to every creditor who appeared when the order was made not less than 7 days' notice of any day appointed for such a review.
The court officer shall send a copy of any order varying or revoking an administration order to the debtor, to every creditor whose debt is scheduled to the administration order and, if the administration order is revoked, to any other court to which a copy of the administration order was sent pursuant to rule 9.
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