Administrators can be appointed either by a court order or during court proceedings.
Applying for a court order
The following parties can make an application to the court:
Out of court procedure
This is typically used by the company’s directors but can also be used by qualifying floating charge holders (QFCH) or the company itself (in rare circumstances).
The procedures differ depending on who is seeking to appoint the administrator.
For directors to appoint an administrator, they have to notify the QFCH 5 days before they file the notice of intention at the court. The notice must also be served on them. If the QFCH disagrees with the choice of administrator, they can appoint their own within the 5 day period. Once the notice of intention has been filed, directors can file a notice of appointment at the court within 5 days.
QFCH can appoint an administrator by simply filing a notice of appointment at the court.