Q&As

Can a limited company which is in administration execute a Deed of Surrender?

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Produced in partnership with Chris Bryden of 4 King’s Bench Walk
Published on LexisPSL on 17/09/2019

The following Property Q&A produced in partnership with Chris Bryden of 4 King’s Bench Walk provides comprehensive and up to date legal information covering:

  • Can a limited company which is in administration execute a Deed of Surrender?

Can a limited company which is in administration execute a Deed of Surrender?

Administration is a process under Schedule B1 to the Insolvency Act 1986 (IA 1986) which is commonly used either to rescue an insolvent business or to wind up the company in an orderly fashion so as to achieve the possible best return for creditors. Administration involves the transfer of the power to run the company from the directors to an administrator, who will be a licensed insolvency practitioner. An administrator may be appointed by the directors, certain floating charge holders, a creditor or the court.

Administration cannot take place while a company is in liquidation unless the court directs otherwise on the application of a liquidator. Likewise, a

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