An insolvency procedure used to protect a company that is insolvent (unable to pay its debts) and to help it achieve a better outcome for its creditors than would be achieved if it went into liquidation.

https://synthesia-ttv-data.s3.amazonaws.com/video_data/8901a1db-30bb-4e35-86e6-2a2121a9877d/versions/9/audio/subtitles.srt?response-content-disposition=attachment%3Bfilename%3D%22Administration.srt%22&AWSAccessKeyId=AKIA32NGJ5TS4EBYEA7M&Signature=3R3puDidIxXdkP6omY7HmKVSKI4%3D&Expires=1737598056