ÀÏ˾»úÎçÒ¹¸£Àû

Status of an administrator

The administrator must perform his functions with the objectives first of rescuing the company as a going concern, secondly of achieving a better result for the company's creditors as a whole than would be likely if the company were simply wound up, and thirdly of realising property in order to make a distribution to one or more unsecured or preferential creditors¹.

These are not a choice but a hierarchy. The rescue of the company is the priority.

An administrator is an officer of the court whether or not he has been appointed by the court² and is bound by the rule in Ex parte James³, which obliges him to act honourably and fairly. He is an agent of the company⁴ and he must perform his functions as quickly and efficiently as is reasonably practicable⁵. The administrator is also the proper officer of the company for tax purposes⁶ and is responsible for doing everything that needs to be done by a company under