IVA Glossary - Administration order

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 instalments. No insolvency practitioner is involved. (Please Note: The definitions are not intended to be exhaustive summaries of the Law. They are based on material from The Insolvency Act 1986 , and other Acts dealing with this subject.) <Back to the glossary

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