Creditor's Guide to Administration
We help creditors gain greater control and improve outcomes in the Administration process.
What is Administration?
Administration is a procedure that functions as a rescue mechanism for asset-rich but insolvent companies, and is usually a precursor or alternative to liquidation. The procedure allows a business to be:
- Rescued as a going concern
- Sold as whole
- Offloaded in parts to realise cash for creditors.
How to enter
Following an application to court for an Administration Order, there are 3 ways a company can be placed into Administration:
- In court
- Out of court
- If a charge holder (creditor) invites an Administrator (insolvency practitioner) to act as interim chief executive with custodial responsibility for the company's obligations and assets.
The information you disclose may be used to bring misfeasance or Director Disqualification Proceedings against you. A director accused of serious misconduct could face prosecution, and be banned from managing companies for up to 15 years.
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For guidance with an Administration procedure call 0207 504 1300 now
Administration is a complex issue and you will need expert advice and support. I&L can help creditors recover payments from overdue invoices. Call 020 7504 1300 now for free and confidential advice…