Liquidation Notice of Discharge of Administration Order
A Notice of Discharge of Administration Order refers to a legal document that signifies the conclusion and termination of an administration order that was previously imposed on the company.
An administration order is a formal insolvency procedure under the Insolvency Act 1986 that grants court protection to a financially distressed company. It allows an appointed administrator to take control of the company’s affairs and work towards its financial recovery, including restructuring, reorganisation, or sale of assets.
When the objectives of the administration order have been achieved, such as the successful restructuring or the fulfillment of the order’s purpose, the administrator will apply to the court for a Notice of Discharge of Administration Order. This notice informs creditors, shareholders, and other interested parties that the administration order has been discharged, and the court’s involvement in the company’s affairs has come to an end.
The Notice of Discharge of Administration Order typically includes information about the date of discharge and any significant outcomes or achievements during the administration period. It may also provide details regarding the company’s financial position and any further actions required by the company, creditors, or shareholders.
Once the Notice of Discharge of Administration Order is issued by the court, the company is no longer under the administration order’s protection, and the administrator’s powers are terminated. The directors regain full control over the company’s operations and decision-making.
It is important to note that the discharge of the administration order does not automatically mean that the company is completely out of financial distress or that it has fully recovered. Further actions or procedures may be necessary, depending on the company’s circumstances, such as implementing a restructuring plan, entering into a voluntary arrangement, or considering other insolvency procedures.
Creditors, shareholders, and other interested parties should carefully review the Notice of Discharge of Administration Order to understand the implications for the company and any further steps or actions that may be required in the company’s ongoing financial recovery process.
These notices are filed with Companies House against the registered company number. All UK company liquidation notices and updates are tracked centrally by Doorda.