| 释义 |
administration order
1. An order made in a county court for the administration of the affairs of a judgment debtor. The order normally requires the debtor to pay his debts by instalments: so long as he does so, the creditors referred to in the order cannot enforce their individual claims by other methods without the leave of the court. Administration orders are issued when the debtor has multiple debts but it is thought that his bankruptcy can be avoided. The debt must be less than £5,000 and there must be at least two creditors. Relevant rules are set out in Order 39 of the County Court Rules, at schedule 2 to the Civil Procedure Rules. 2. An order made by the court under the Insolvency Act 1986, directing that, during the period for which it is in force, the affairs, business, and property of a company shall be managed by an administrator appointed by the court. In order for the court to grant such an order it must be satisfied that the company cannot or is unlikely to be able to pay its debts when due and that the order is likely to allow for the three stated objectives of an administration. The Insolvency Act does not specify a period for the duration of the order: it remains in force until the administrator is discharged, by the court, having achieved the purpose(s) for which the order was granted or having decided that the purpose cannot be achieved. While the order is in force the company may not be wound up; no steps may be taken to enforce any security over the company’s property or to repossess goods in the company’s possession, except with the leave of the court, and no other proceedings or other legal processes may be initiated or continued, against the company or its property, except with the court’s leave. |