Directors' Administration Appointment In A Day

Companies that need to enter administration have a number of methods available to them to enter into this insolvency procedure. These can broadly be broken down into two categories:

1. out of court administration appointments; and
2. court appointments.

If an out of court appointment can be effected then lawyers, in normal circumstances, would advise a company, the board of directors or a qualified floating charge holder (“QFCH”) to utilise the far simpler, and thus less expensive, out of court route.

In circumstances where:

1. a company is being threatened with creditor action which could have a fatal effect on the company; and
2. one of the statutory purposes of administration can be achieved,