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English definition of “administration order”

administration order

noun [C]
 
 
UK LAW
an order by a court for a company that cannot pay its debts to be managed by an independent administrator who will try to improve the company's financial situation and to keep it operating: The company had applied to the Court of Session for an administration order and put the business into the hands of the accountants.
(Definition of administration order from the Cambridge Business English Dictionary © Cambridge University Press)
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