Administrations

Administration is a process that provides creditors with a better outcome than a winding up by achieving:

• The rescue of the company, perhaps after a company voluntary arrangement to restructure its finances
• The better realisation of assets, perhaps following the disposal of the company's business as a going concern

Like voluntary arrangements, administrations are highly compatible with Portland's approach towards saving companies and their businesses.

Administrations are intended to encourage creative, flexible and practical ways to avoid a winding up, they are based upon the close involvement of creditors and carrying their trust and they allow a period of protection to implement real business improvements.