190. Appointment of Administrator by a court

the company;

one or more directors of the company;

a contributory of the company;

a creditor (including a contingent or prospective creditor) of the company;

if the company is in liquidation, the liquidator;

where a provisional liquidator has been appointed, the provisional liquidator;

the Registrar; or

the Authority.

the company is or is likely to become insolvent but, if an administrator is appointed, either –

the survival of the company or the whole or part of its business is reasonably capable of being achieved; or

a better return for the creditors and shareholders may be achieved than would be likely if the liquidation of the company were to commence immediately; or

it is just and equitable to do so.