OOCH Administrator Appointment Notice (From Qualifying Floating Charge Holder)
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Genie AISource file
ooch_administrator_appointment_notice_(from_qualifying_floating_charge_holder)_template.docxJurisdiction
England and WalesCost
Free to useRelevant sectors
Type of legal document
📝 Notice of appointment of administratorBusiness activity
Appoint administratorA notice of appointment of administrator covers the appointment of an administrator to a company. The administrator is responsible for the management of the company and its affairs, and has the power to make decisions on behalf of the company. The notice of appointment of administrator sets out the terms of the appointment and the powers of the administrator.
In UK insolvency law, an Administrator is a licensed professional appointed to administrate and potentially rescue a financially distressed or insolvent company. The appointment of an Administrator typically occurs when a company is unable to meet its financial obligations or faces serious difficulties in its operations.
This legal template serves as a formal notice from a qualifying floating charge holder, which typically refers to a secured creditor holding a floating charge over a company's assets, to inform interested parties of their decision to appoint an Administrator. The template outlines the necessary details required for such notice, including the name and contact information of the floating charge holder, details of the company under administration, the reasons for the appointment, and any additional instructions or information that may be relevant.
Complying with UK law, this template ensures that all relevant parties, such as the company's directors, shareholders, employees, and other stakeholders, are duly informed about the appointment of an Administrator. This notice formally starts the process of administration, providing transparency and clarity in the legal proceeding for all interested parties.
It is important to note that while this legal template provides a general framework for an Administrator Appointment Notice, specific details and circumstances may vary depending on the company and the agreement between the floating charge holder and the company. Legal advice and consultation are recommended when utilizing this template to ensure adherence to the applicable laws and regulations in the UK.
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The witness statement may include information regarding the current state of affairs, the reason behind the need for an extension, the value and importance of the administrator's expertise in the specific case, as well as any positive impacts achieved during the initial appointment. The statement can also demonstrate the administrator's ongoing effectiveness in managing and resolving complex issues, maintaining stability, and safeguarding the interests of all relevant parties involved.
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