| Commentary

133 Administrator’s obligation

| Commentary

8: THE ADMINISTRATOR’S PROPOSALS AND THE CREDITORS’ MEETING

133 Administrator’s obligation

As soon as is reasonably practicable after the company enters administration, and in any event, before the end of the period of eight weeks beginning with the day on which the company enters administration, the administrator shall make a statement setting out proposals for achieving the purpose of administration1. The court, on the application of the administrator, may vary the time limit more than once and even after expiry2. It remains to be seen how a formula of ‘as soon as is reasonably practicable’3, coupled with a specific period of

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