A procedure under the Insolvency Act 1986 where a company may be reorganised or its assets realised under the protection of a statutory moratorium ( The company is put into administration and an administrator ( appointed. At the end of the administration, the business has hopefully survived and the company rescued or the business and/or the company's assets have been sold by the administrator. A company may be put into administration by court order or by an out-of-court procedure available to the company itself, its directors ( or the holder of a qualifying floating charge ( .

For an overview of the administration process, see Practice note, Administration ( .

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