Administration Order


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Administration Order

In bankruptcy or estates, an order by a court mandating that creditors appoint an administrator to handle, pay off, or discharge the debts. In the event of a bankruptcy, the administration order may also charge the administrator with winding down a business' operations.
References in periodicals archive ?
It is hoped and expected that the administration Order if properly executed, will be beneficial to all the creditors.
E-Clear was not represented by counsel, but its "consent" to the administration order was notified to the court by solicitors.
The Materiel Administration order encompasses developing rules for the design and technical specifications for how the system is to be constructed, a process that is scheduled to be complete by 2006.
As a result, Swansea will now be applying to have the temporary administration order lifted, which will see the club returned to the directors, free of any financial burden.
Robinson went on to add: "Judging from his comments it seems that the Prime Minister has been misinformed as to the circumstances leading up to the administration order.
The embattled retailer filed the application in December and sought an administration order after the judge who was hearing the case disqualified himself.
An administration order is a formal, legal debt solution which means that it's approved by the court and your creditors have to stick to it.
Managing company Don Leisure Limited, who run the Pier Brasserie restaurant, Pier Pressure nightclub, Inn on the Pier bar, Don Gelato Ice Cream Parlour and the Pier Amusements, blamed last January's tidal storms and the subsequent loss of business as factors in their decision to seek an administration order.
CHIEF executive Tim Fisher admits Coventry have been prepared for the possible threat of an administration order and are working with their advisers to "minimise the damage to the club".
Peter Kubik, of the club's financial advisors UHY Hacker Young, said: "They are in the process of seeking an administration order - an application to court seeking administration is due to go in any day.
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