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ADMINISTRATION ORDER
An administration order is a court order placing a company that is, or is likely to become, insolvent under the control of an administrator following a petition by the company, its directors or a creditor. The purpose of the order is to preserve the company's business and assets to allow a reorganisation or ensure the most advantageous realisation of its assets whilst protecting it from action by its creditors.
The administration of the insolvent estate of a deceased debtor.
County court process permitting an individual with modest debts to pay off installments. No insolvency practitioner is involved.
AUTHORISED (OR LICENSED) INSOLVENCY PRACTITIONER
The person (usually an accountant or solicitor) authorised by the Department of Trade and Industry (DTI) or a professional body to act as trustee, nominee, supervisor, liquidator, administrative receiver or administrator. Only such a person can hold any of these offices.
ADMINISTRATIVE RECEIVER
The person appointed by the holder of a floating charge debenture over a company's assets to collect in and realise the assets of that company and to repay the indebtedness to the debenture holder.
ADMINISTRATIVE RECEIVERSHIP
The term applied when an insolvency practitioner is appointed as an administrative receiver.
ADMINISTRATOR
The insolvency practitioner appointed by the court to handle the affairs of a company the subject of an administration order.
AGRICULTURAL RECEIVERSHIP
A special remedy to take control of the assets of a farmer under the Agricultural Credits Act 1928.
ASSOCIATES
Associates of individuals include family members, relatives, partners and their relatives, employees, employers, trustees in certain trust relationships, and companies which the individual controls. Associates of companies include other companies under common control.
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If you can't find the term you would like more information about or you have a question you can reach us on our contact page or on 0800 071 1616.
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