Administration
Administration provides an immediate protection against creditors
and is designed to allow a company sufficient time to consider all of its options. The underlying aim is to seek to allow the business to be rescued as a going concern, thus preserving jobs and allowing the maximum possible return to creditors generally.

This streamlined process can be instigated by directors where a company has a viable future and used to effect a formal restructure by way of presentation to its creditors of a recovery plan.