A procedure under the Insolvency Act 1986 ( www.practicallaw.com/9-503-9352) where a company may be reorganised or its assets realised under the protection of a statutory moratorium ( www.practicallaw.com/0-107-6862) . The company is put into administration and an administrator ( www.practicallaw.com/2-107-6366) appointed. At the end of the administration, the business has generally either survived and the company been rescued or the business and the company's assets have been sold by the administrator and the administration ended in a liquidation ( www.practicallaw.com/5-107-6770) or dissolution. A company may be put into administration by court order or by an out-of-court procedure available to the company itself, its directors ( www.practicallaw.com/9-107-6117) or the holder of a qualifying floating charge ( www.practicallaw.com/3-202-3140) .
For an overview of the administration process, see Practice note, Administration ( www.practicallaw.com/3-107-3975) .