The Rent Review Specialist
Administration
Administration
Administration is the period in which the affairs, business and property of a company is managed by an insolvency practitioner known as an administrator.
The administrator can be appointed by the court or by the company, its directors or a qualifying floating charge holder. The administrator must perform his functions in the interests of the company's creditors as a whole and the three objectives, in order of importance are to rescue the company as a going concern, to achieve a better result for the creditors than would be achieved if the company were wound up, and to realise property to make a distribution top one or more secured or preferential creditors.
The administrator can be appointed by the court or by the company, its directors or a qualifying floating charge holder. The administrator must perform his functions in the interests of the company's creditors as a whole and the three objectives, in order of importance are to rescue the company as a going concern, to achieve a better result for the creditors than would be achieved if the company were wound up, and to realise property to make a distribution top one or more secured or preferential creditors.