Administration
A formal company insolvency process where an administrator takes control to protect the business or its assets while seeking the best available outcome for creditors.
Related terms
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Administrator
A licensed insolvency practitioner appointed to manage a company in administration and pursue one of the statutory purposes of that process.
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Pre-pack administration
An administration where a sale of all or part of the business is arranged before the administrator is appointed and completed shortly afterwards.
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Estimated outcome statement
A document estimating what creditors may receive under different insolvency or restructuring options, helping stakeholders compare likely outcomes.
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