Appointment of administrator

An administrator (or administrators) can be appointed in writing by:

• • the company itself where the directors have resolved both that the company is insolvent or is likely to become so at some future time and that an administrator should be appointed;
• • a liquidator or provisional liquidator who believes the company is insolvent or likely to become so at some future date; or
• • a secured party holding a security interest over the whole or substantially the whole of the company’s property, if the interest has become and still is enforceable and if a liquidator or provisional liquidator has not been appointed. See Appointment of administrator.