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.
are not included in this administration order
and will operate as usual.
In the Court's view, the administration order
tried to achieve two main goals.
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.