Commentary

145 Automatic termination of administration after one year

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

145 Automatic termination of administration after one year

| Commentary

145 Automatic termination of administration after one year

The appointment of an administrator ceases to have effect at the end of the period of one year beginning with the date on which it takes effect1. But on the application of an administrator (by application notice, which must be accompanied by a progress report2) the court may by order extend his term of office for a specified period3, and an administrator’s term of office may also be extended for a specified period not exceeding one year by consent4. A court order may be made in respect of an administrator whose term

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to LexisLibrary or register for a free trial