MARCH 2013

CHAPTER 56.1 ADMINISTRATION

INTRODUCTION

56.1.1 Introduction

This chapter provides information on the formal insolvency procedure called administration that is available to a company, a limited liability partnership (hereinafter referred to as an LLP) or a partnership in financial difficulties or where it wishes to wind up its affairs.

The chapter is divided into 9 parts:

Part 1 - What is administration? (paragraphs 56.1.2 to 56.1.15)

Part 2 - Appointment of an administrator by the court (paragraphs 56.1.16 to 56.1.25)

Part 3 - Appointment of an administrator by the holder of a qualifying floating charge (paragraphs 56.1.26 to 56.1.36)

Part 4 - Appointment of an administrator by the company or directors (paragraphs 56.1.37 to 56.1.46)

Part 5 - Effects of administration (paragraphs 56.1.47 to 56.1.58)

Part 6 - Powers of an administrator (paragraphs 56.1.59 to 56.1.67)

Part 7 - The duties of an administrator (paragraphs 56.1.68 to 56.1.100) 

Part 8 - The end of the administration (paragraphs 56.1.101 to 56.1.124)

Part 9 - Compulsory winding up following administration (paragraphs 56.1.125 to 56.1.139)

[on to Part 1 – What is administration?]