# Insolvency Act 1986, Paragraph 55: Failure to obtain approval of administrator’s proposals

Extent: E+W+S

(1) This paragraph applies where an administrator—
(a) reports to the court under paragraph 53 that a company's creditors have failed to approve the administrator's proposals, or
(b) reports to the court under paragraph 54 that a company's creditors have failed to approve a revision of the administrator's proposals.
(2) The court may—
(a) provide that the appointment of an administrator shall cease to have effect from a specified time;
(b) adjourn the hearing conditionally or unconditionally;
(c) make an interim order;
(d) make an order on a petition for winding up suspended by virtue of paragraph 40(1)(b);
(e) make any other order (including an order making consequential provision) that the court thinks appropriate.

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Source: https://www.legislation.gov.uk/ukpga/1986/45/schedule/B1/paragraph/55 (the official version)
Page: https://openlegislation.uk/insolvency-act-1986/schedule-B1/paragraph-55
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.