Administration order,
Definition of Administration order:
A court order requiring the proper administration of the property of a deceased or bankrupt individual, insolvent company, etc.; (in later use also) British a court order under the terms of which an administrator is appointed to manage the affairs of a person or company at risk of insolvency.
Court order issued on request of creditors to appoint an administrator to: (1) wind up a debtors estate to settle his or her debts, (2) manage an insolvent firm in an attempt to continue its operations as a going concern, or (3) wind up its business in a manner that best satisfies the creditors claims.
Meaning of Administration order & Administration order Definition
