Commentary

146 Termination of administration where purpose of administration achieved

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

146 Termination of administration where purpose of administration achieved

| Commentary

146 Termination of administration where purpose of administration achieved

Where the initial appointment was out of court, that is under the Insolvency Act 1986 Schedule B1 paragraph 14 (by the holder of a qualifying floating charge) or paragraph 22 (by the company or its directors), and the administrator thinks that the purpose of administration has been sufficiently achieved in relation to the company1, he may file a notice, which must contain the prescribed contents2and be accompanied by a final progress report3, with the court and with the registrar of companies, and his appointment ceases to have effect when that has

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