Administration is a process which places a company under the control of a licensed insolvency practitioner and the protection of the court. It can be commenced by the directors, floating charge holders or companies by filing a ‘Notice of Intention to Appoint’ or ‘Notice of Appointment’ at court, or in certain circumstances by making an application to the court. The purpose of administration is to save the company, or if that is not possible, to achieve a better result for creditors than in a liquidation. If neither of those is possible, the purpose of an administration is then to realise property to enable funds to be distributed to secured or preferential creditors.