Company – Administration. The directors of an English company sought, among other things, an administration order and an order granting the proposed administrators liberty to enter into an immediate 'pre-pack' agreement (the SPA) for the sale and purchase of all the company's assets, as part of a scheme for the restructuring of a predominantly German-based group. The Companies Court granted the administration order where the proposed restructuring was the only available alternative to the liquidation of the company and the break-up of the group. It was a natural and proper use of language to describe the proposed sale as one which would be implemented under a court approved process, even though the actual decision to enter into the SPA would be taken by the proposed administrators.