Section 239L — Companies Act 1993: Appointment by Court

239L Appointment by Court (1) The Court may appoint an administrator on the application of a creditor, the liquidator (if the company is in liquidation), or the Registrar. (2) The Court may appoint an administrator if— (a) the Court is satisfied that the company is or may become insolvent and that an administration is likely to result in a better return for the company's creditors and shareholders than would result from an immediate liquidation of the company; or (b) it is just and equitable to do so. Section 239L: inserted, on 1 November 2007, by section 6 of the Companies Amendment Act 2006 (2006 No 56).