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Legal requirements and procedures vary depending on whether the business is in administration, administrative receivership or liquidation and you will need to research the differences between these states.
Jarvis has escaped prosecution for its role in the Potters Bar crash because it is in administration and its administrators have declined to take part in proceedings.
Palace is in administration and has been forced to sell players.
A statement on the firm's website said: "You may have heard or read that Wrapit is in administration.
However, workers have discovered that because the company is in administration, axed staff will only get statutory redundancy pay.
The lender is in administration and we will be taking steps to ensure any outstanding debts are collected legally and fairly".
Similar(38)
A High Court hearing in London on Tuesday ruled that the League One club was "in administration".
A High Court hearing in London last week ruled that the League One club was "in administration", triggering the automatic Football League punishment.
Mallorca are in administration.
"They told me I could be in administration.
Less than six months later, MG Rover was in administration.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com