Jurisdiction(s):
United Kingdom

Related legal acts

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...

Buying property from an administrator: due diligence, landlord consent, licences, security release and SPA drafting (England and Wales)

Published by a LexisNexis Restructuring & Insolvency expert

Practice notes

Property often constitutes part of the assets of an insolvent Company to be realised by an administrator, and it is frequently crucial to a would-be purchaser wishing to keep the business operating after completion. That said, a purchaser must appreciate that acquiring a property from an insolvent company involves several notable differences, and a distinct strategy is required from that used where the company is solvent. This Practice Note identifies the principal divergences between purchasing property from a solvent company and one in Administration, predominantly in the leasehold arena, though many of the observations will likewise be relevant to freehold transactions.

Difference in approach compared to a solvent seller of property

Buying from an insolvent vendor necessitates a different approach than a transaction with a solvent seller, reflecting the particular context of administration and the nature of the assets being disposed of.

Due diligence and timescales

Contracts for the sale and purchase of land rest on the legal doctrine of caveat emptor (buyer beware). Consequently, it falls to the buyer to undertake whatever level of due diligence it considers necessary to be satisfied that it wishes to proceed with the acquisition of the property...

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Tim Carter

Stevens & Bolton LLP

Tim advises on all aspects of restructuring and corporate and personal insolvency, including from corporate simplification projects to distressed business transations. His clients range from insolvency practitioners, corporates, stakeholders and other investors to directors and individuals. He also has expertise in matters involving insolvency litigation.Tim is head of the restructuring and insolvency practice, having been a partner since 2010.Tim is a member of INSOL, the International Bar Association (IBA) and ABI (American Bankruptcy Institute). He speaks at seminars/webinars and writes articles for various legal and industry publications including Insolvency Intelligence, Accountancy Today and Accountancy Age. He also provides comment for the national press including The FT, The Independent and The Guardian....

Louise Corcoran

Stevens & Bolton LLP

Louise advises a wide variety of clients, including insolvency office-holders, lenders, companies and directors, in relation to the full spectrum of insolvency and restructuring matters. Louise has experience of debt restructurings, formal insolvency processes, asset/business acquisitions from distressed companies and corporate reorganisations. She also regularly provides advice on validity of security, directors’ duties and security enforcement strategy.Louise trained and qualified at a City firm, working there for several years following qualification. She joined the restructuring & insolvency practice at Stevens & Bolton in 2020. ...

Jonathan Cope

Stevens & Bolton LLP

Jonathan supports clients on a variety of commercial property transactions including landlord and tenant work, acquisitions and disposals of investment property and real estate finance. Jonathan trained and qualified at a City law firm and joined Stevens & Bolton in 2016. In 2019 Jonathan spent six months on secondment to Lloyds Banking Group plc working in its real estate and housing legal team. Jonathan’s experience includes working with a variety of landlord and tenant clients on lettings of offices, leisure spaces and industrial sites. He also acts for property investors on both sales and acquisitions. Jonathan also supports our finance team acting for both lenders and borrowers on real estate finance transactions....

Web page updated on 21/05/2026

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