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Administrative Receivership Vs Administration
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Administrative Receivership v Administration

MECHANISM

Administrative Receivership
  • Default
  • Demand
  • Appointment
  • Acceptance of Appointment
  • Realise Assets
  • Pay preferential and secured creditors
  • Transfer surplus (if any) to the Liquidator
Administration
  • Notice of Intention to Appoint
  • Purposes:
    • Rescuing the company as a going concern, or, if that is not reasonably practicable, then
    • Achieving a better result for the company's creditors as a whole than would be likely if the company were wound-up, or, if that is not reasonably practicable, then
    • Realising properly in order to make a distribution to one or more secured or preferential creditors
    • Creditors Meeting
    • Automatic discharge after 12 months
    • Exit: CVA/Liquidation


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