basically...

Administrators can be appointed by:

a company that is unable, or likely to become unable, to pay its debts or by its directors

the courts, following an application by a creditor, directors or partners

the holder of a qualifying floating charge over the company?s assets.

so if HMRC apply for an administrator the courts can grant one.

if they have applied for a winding up order then it would be sensible for pompey's lawyers to ask to go into voluntary administration (at the hearing) arguing that this would be better for all the other creditors. courts would usually accept t his depending on the circumstances

so i wouldnt rule admin out yet

Posted By: Tony Martin, Feb 10, 11:36:42