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🖊️ Administration order

A administration order is a type of court order that can be made to help you pay your debts. It can be used if you owe money to more than one creditor and you cannot afford to pay them all. A administration order means that someone else, called an administrator, will manage your debts for you.

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🖊️ Administration order templates

Standard Court Order Draft to Place a Company into Administration

The legal template "Standard Court Order Draft to Place a Company into Administration under UK law" is a pre-drafted document that outlines the necessary steps and language required to navigate the process of placing a company under administration in the United Kingdom. It serves as a guide for legal professionals and companies seeking to commence formal insolvency proceedings.

The template typically includes a range of essential provisions to be incorporated into a court order, ensuring compliance with the relevant UK laws and regulations governing administration. It may outline details such as the parties involved (e.g., the debtor company, appointed administrators, and potentially affected creditors), the specific court where the application is made, and the reasons justifying the administration process.

Additionally, the template could incorporate clauses pertaining to the powers, duties, and responsibilities of the appointed administrators, including their ability to manage the company's affairs, negotiate with creditors, and make necessary decisions for the preservation of the company's assets and value. It may also cover the submission of regular reports to the court, provision for further court directions or approvals, and an overview of the anticipated timeline for the administration process.

Overall, this legal template provides a comprehensive framework for obtaining court approval to place a company into administration, offering clear guidelines and language that ensure compliance with UK insolvency laws and regulations. It is designed to streamline the process while protecting the interests of the stakeholders involved and facilitating the effective resolution of the company's financial difficulties.
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Publisher

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Jurisdiction

England and Wales
TEMPLATE
USED BY
100K
RATINGS
4.5
DISCUSSIONS
10

Associated business activities

Place company into administration

Placing a company into administration can help protect it from creditors and insolvency. It can also be used to restructuring the company.

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