Notice of an order to dispose of charged property in administration refers to a process where a notification is submitted to Companies House to inform them about an order issued by the court permitting the sale or disposal of property that is subject to a charge (security interest) during an administration process.

When a company enters administration, an insolvency practitioner (administrator) is appointed to oversee the affairs of the company and manage its assets. In some cases, the administrator may need to sell or dispose of property that is subject to a charge. A charge typically arises when a company has used certain assets as collateral to secure a loan or other financial obligation.

To legally proceed with the disposal or sale of charged property, the administrator must obtain an order from the court granting permission. Once the court issues the order, the administrator is required to notify Companies House about the order and the intention to dispose of the charged property.

By notifying Companies House of the court order, the relevant information is added to the company’s public record, providing transparency to creditors, shareholders, and other interested parties.

The notification typically includes details about the court order, the charged property being disposed of, and any conditions or restrictions specified in the order. It serves as an official record of the administrator’s actions and helps ensure compliance with legal requirements and transparency in the administration process.

All UK company liquidation notices and updates are tracked centrally by Doorda.