Administration
A statutory insolvency procedure in which an administrator takes control of a company to pursue the relevant statutory objectives.
by Jack Butler-Kettle · About 1 min readShare
Further detail
Read this alongside GOV.UK guidance on administration.
An administrator manages a company through a statutory insolvency process. An unpaid supplier needs to distinguish debts incurred before the appointment from any new work requested afterwards. Restrictions can affect enforcement, and the existence of a debt does not establish that it will be paid in full.
Confirm the appointment and preserve your account and contract records. Obtain advice from a solicitor or insolvency specialist on creditor claims, restrictions and any proposed further work.
Sources
- Put your company into administration. GOV.UK.