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 was thought that this would be in the interests of creditors and could save many jobs which may be at risk if the administration orders were not made and the group was placed in liquidation.
Kwik Save said it had secured a court adjournment to an application for an administration order to give directors more time to agree a re-financing package aimed at securing the future of the business.
These notices comprise voluntary liquidations, compulsory liquidations, administration orders, receiverships and voluntary arrangements.
3 per cent annual rise in administration orders follows the implementation of the Enterprise Act 2003 which gives additional breathing space for companies in financial difficulties.
July 15 /PRNewswire-FirstCall/ -- Collins & Aikman Corporation announced today that its European companies have obtained a "group wide" Administration order pursuant to the jurisdiction of the English High Court in London.
the High Court of Justice for an Administration Order.
The areas most hit by administration orders were London (up 243%), Scotland (up 88%) and Wales (up 83%) during 2006.
Administration orders are also on the increase - up 55 per cent on the same period last year.
The regions, with the highest number of administration orders were the South-east with 40 per cent, the Midlands with 18 per cent and the North East with 17 per cent.
Administration orders have increased by 82 per cent over the same three-month period against 2003 and by 94 per cent over the period in 2002.
In contrast to the declining insolvency landscape, administration orders have increased by 82% over the same period in 2003 and by 94% over 2002.
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