118 Introduction

BANKRUPTCY AND INSOLVENCY (CORPORATE INSOLVENCY) vol 3(3)

| Commentary

118 Introduction

| Commentary

7: PROCESS OF ADMINISTRATION

118 Introduction

The procedure described in this section is common to appointments by court order, appointments by the holders of floating charges under paragraph 14 of Schedule B1 to the Insolvency Act 1986 and appointments by the company (or its directors) under paragraph 22 of that Schedule.

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118 Introduction

118 Introduction

7: PROCESS OF ADMINISTRATION

118 Introduction

C: ADMINISTRATION

119 Application by creditor to set aside the administration

120 Steps immediately after the order

121 VAT: notification of HM Revenue and Customs

122 Statement of affairs

123 Statement of concurrence

124 Publicity

125 Powers of administrator

126 Special power to deal with charged property

127 Control of property

128 Control of exercise of administrator’s powers

129 Reports to creditors (progress reports)

130 Receipts and payments account

131 Power to dispose of assets, business and property without holding a creditors’ meeting

132 Misfeasance by administrator

133 Administrator’s obligation

134 Contents of the administrator’s statement

135 Details of pre-administration fees to be included in administrator’s proposal where appropriate

136 Notice of Decision Procedure

137 Appointment of creditors’ committee

138 When initial creditors’ decision is not required

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118 Introduction

118 Introduction

7: PROCESS OF ADMINISTRATION

118 Introduction

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