Company administration (UK insolvency law)

Company administration is an insolvency procedure in which an appointed administrator performs functions under Insolvency Act 1986 Schedule B1. The objectives are to rescue the company as a going concern, achieve a better result for creditors as a whole than immediate winding up, or in specified circumstances realise property for secured or preferential creditors. The statute gives priority to rescue unless it is not reasonably practicable or the second objective would produce a better result; the third is subject to further restrictions. Administration is not a guarantee that the company survives.