Administration Order

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. An application to the court for an administration order may be made by the company, the directors, a creditor or any combination of them. The Enterprise Act 2002 amended the Insolvency Act 1986 to provide an out of Court process to appoint an administrator to the holder of a floating charge or the company or its directors. This is considerably cheaper and simpler than the previous system, which involved an application to Court.

ee also

* Administrative receivership
* Administration (insolvency)
* Chapter 11, Title 11, United States Code


Wikimedia Foundation. 2010.

Игры ⚽ Нужен реферат?

Look at other dictionaries:

  • administration order — ➔ order1 * * * administration order UK US noun [C] UK LAW ► an order by a court for a company that cannot pay its debts to be managed by an independent administrator who will try to improve the company s financial situation and to keep it… …   Financial and business terms

  • administration order — Under Part II of the Insolvency Act 1986, an administrator is appointed under Court order. He takes control of the company s affairs to achieve the primary purpose of allowing the company to recover from its financial difficulties and to be… …   Law dictionary

  • administration order — 1) An order made in a county court for the administration of the estate of a judgement debtor (see judgement creditor). The order normally requires the debtor to pay all debts by instalments; so long as he does so, the creditors referred to in… …   Big dictionary of business and management

  • administration order — 1) An order made in a county court for the administration of the estate of a judgment debtor. The order normally requires the debtor to pay the debts by instalments; so long as this is done, the creditors referred to in the order cannot enforce… …   Accounting dictionary

  • administration order — /ədˌmɪnɪ streɪʃ(ə)n ˌɔ:də/ noun 1. an order by a court, by which a debtor repays his debts in instalments 2. an order by a court to appoint an administrator for a company …   Dictionary of banking and finance

  • Administration (insolvency) — Administration is a procedure under the insolvency laws of a number of common law jurisdictions which functions as a rescue mechanism for insolvent companies and allows them to carry on running their business. The process mdash; an alternative to …   Wikipedia

  • insolvency administration order — A court order for the administration of the insolvent estate of a deceased debtor in bankruptcy …   Accounting dictionary

  • Administration (law) — As a legal concept, administration is a procedure under the insolvency laws of a number of common law jurisdictions. It functions as a rescue mechanism for insolvent entities and allows them to carry on running their business. The process – an… …   Wikipedia

  • order — 1) In business and trade, making a request to deliver, sell, receive, or purchase goods or services; 2) In the securities and futures trade, instructions to a broker on how to buy or sell. The most common orders in futures markets are market… …   Financial and business terms

  • Order of Preachers —     Order of Preachers     † Catholic Encyclopedia ► Order of Preachers     As the Order of the Friars Preachers is the principal part of the entire Order of St. Dominic, we shall include under this title the two other parts of the order: the… …   Catholic encyclopedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”