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companies pushed into Administration by lenders it may come as a surprise but directors and shareholders will not usually get much notice of a lenders intention to appoint administrators and will frequently get none at all borrowing in return for pledging a piece or all of the businesses security is par for the course its known and understood and without it the lending simply wouldnt be made notice of administration however a common misconception is that the lender must always give notice before appointing administrators in fact most security documents allow the lenders to appoint administrators immediately and without any notice at all all A lender has to do is electronically send in a form to the relevant court and the appointment is made instantly events of a default the justification to a point is in the detail of the lending documents known as events of default the events of default can be numerous and wide-ranging and directors are well advised to be familiar with them the obv
