administration order


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administration order

n
1. (Law) an order by a court appointing a person to manage a company that is in financial difficulty, in an attempt to ensure the survival of the company or achieve the best realization of its assets
2. (Law) an order by a court for the administration of the estate of a debtor who has been ordered by the court to pay money that he owes
References in periodicals archive ?
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.
An administration order is a formal, legal debt solution which means it's approved by the court and creditors have to abide by it.
A High Court judge on Friday morning subsequently adjourned an application for an administration order made by ACL, who claim they are owed more than PS1.
Coventry and owners SISU find themselves in the High Court in London battling against the threat of an administration order, with the application having come from Arena Coventry Limited (ACL), who manage the Ricoh Arena on behalf of joint owners the Alan Edward Higgs Charity and Coventry City Council.
Insolvency specialist Deloitte is understood to have applied to the courts for an administration order.
But Record Sport understands the final payment of about pounds 200,000 was not paid and on July 29 the taxman lodged a petition for an administration order at the Court of Session.
ORDER AGAINST E-CLEAR A High Court judge granted an administration order Tuesday against Cypriot owned E-Clear, the company which dealt with the online ticket sales of collapsed travel firm Globespan.
Simon Mortimore, QC, representing Pricewaterhouse Coopers (PwC), administrators of Globespan, was seeking an administration order against E-Clear.
Solicitor Brian Rawlings, representing LDV Group and Birmingham Pressings Ltd, which makes panels for the vans, told Judge Cooke the firms' directors were no longer seeking an administration order.
An administration order was made in respect of Merchant Group International Plc
Simon Lundy, of Ingram's accountants Begbies Traynor, said: "We advised the directors that the company should seek an administration order and in the meantime Ingram Care Services entered into negotiations with Positive Life Choices for the sale of Ingram's assets and business once the company was in administration.
Maidstone-based London & Swallow Group's administration order covers 671 sites with over 7,000 employees.
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