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The matters I must consider
The matters I must consider
There are three principal requirements that must be met before I can make an administration order in relation to the Company:
The Company must be unable (or likely to become unable) to pay its debts – see paragraph 11(a) of Schedule B1 to the Insolvency Act 1986 (Schedule B1).
The court must be satisfied that the administration order would be reasonably likely to achieve the purpose of administration – see paragraph 11(b) of Schedule B1.
For my jurisdiction to be engaged at all, it must be shown that the Company has its “centre of main interest” (COMI) in the UK.
Those are the necessary conditions to the exercise of the court’s discretion to make an administration order in relation to the Company. If all of those conditions are met, I must be satisfied that it is a proper exercise of my discretion to make an administration order