Jurisdiction(s):
United Kingdom

Key definition

Administration definition

What does Administration mean? Administration is a corporate insolvency procedure used to protect and stabilise a financially distressed company while an independent insolvency practitioner (the administrator) takes control to pursue rescue or a better return to creditors than liquidation. It is a statutory process in England and Wales and Scotland under the Insolvency Act 1986, Schedule B1, and in Northern Ireland under the Insolvency (Northern Ireland) Order 1989, Schedule B1. Key features include an immediate moratorium on most creditor enforcement, displacement of the directors’ management powers, and appointment either by court order or out of court by the company, its directors or...

Administration of joint and separate estates in insolvent limited partnerships: expenses, debts and priorities under the Insolvent Partnerships Order 1994 and Insolvency Act 1986

Published by a LexisNexis Restructuring & Insolvency expert

Practice notes

Applicable legislation

A limited partnership is wound up using the approach applied to an ordinary partnership, which in essence tracks and broadly mirrors the Unregistered company winding‑up procedure (see SI 1994/2421, art 8 and Sch 4, and Practice Note: Winding‑up a general partnership as an unregistered company).

The liquidation of any corporate partner, and the Bankruptcy of any individual partner, take place under the standard insolvency regime, but with adjustments made and given effect by the Insolvent Partnership Order 1994 (IA 1986, s 136(4) as modified by SI 1994/2421, Sch 4).

The Insolvency (Miscellaneous Amendments) Regulations 2017, SI 2017/1119, revise the rules for limited partnerships to bring them into line with the insolvency procedures applicable to other entities following wider reforms.

Of particular relevance to limited partnerships, SI 2017/1119 updates the Insolvent Partnerships Order 1994, SI 1994/2421 (IPO 1994), substituting mentions of ‘the Insolvency Rules 1986’ with ‘the IR 2016’, and making allied amendments to the Company Directors Disqualification Act 1986 (CDDA).

For further details and context, refer to the Government’s Explanatory Memorandum and Aligning provisions of general insolvency law—the Insolvency (Miscellaneous Amendments) Regulations 2017)

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Natasha Dzameh

St John's Chambers

Natasha is a specialist commercial and chancery barrister who is consistently ranked as a leading junior in Chambers UK and Legal 500. She has been described as someone who has “a good way with clients” as well as being “an assertive and tenacious advocate”, “very responsive, extremely thorough, pragmatic and easy to work with as part of the team”, “approachable” and “extremely intelligent, with an eye for practical and innovative solutions”. Natasha is often instructed as sole counsel in high value, multifaceted litigation. She has experience of acting as junior to senior counsel on particularly complex matters and working in teams of counsel on large scale, high value, document-heavy government disputes. Her clients range from individuals to major financial institutions and international companies including high street brands. Natasha’s main areas of expertise are: Commercial disputes – agricultural, banking and financial (including...

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