AdministrationAdministration
law
Common
Rarity: Common
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At a glance
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What Wikipedia says
As a legal concept, administration is a procedure under the insolvency laws of a number of common law jurisdictions, similar to receivership or bankruptcy in the United States. It functions as a rescue mechanism for insolvent entities and allows them to carry on running their business.
Excerpt from the Wikipedia article “Administration (law)”, under the CC BY-SA 4.0 license. Read the article on Wikipedia
Image: Hopea, CC BY-SA 3.0, via Wikimedia Commons.
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