单词 | administration |
释义 | administration a. To rescue the company as a going concern (the primary purpose); b. To achieve a better result for the company’s creditors than would be achieved if the company were wound up; and c. To realize property to make a distribution to one or more secured or preferential creditors. 2. The collection of assets, payment of debts, and distribution to the beneficiaries of property in the estate of a deceased person. See also grant of representation. 3. The granting of letters of administration in the estate of a deceased person to an administrator, when there is no executor under the will. 4. The process of carrying out duties imposed by a trust in connection with the property of a person of unsound mind or a bankrupt. |
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