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This is the case.
Administration is usually forced on companies by its creditors as an attempted to get back their money. Ukio are the owners and the ones holding the debt. There's no advantage I can see from them putting the club in administration which effectively means an accountant being brought in to sort the clubs afairs out (i.e. the owners lose control). Why on earth would they do that?
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I suppose it's possible that there are other unpaid creditors, such as police, playing staff etc....who might force administration. However, I would agree that it's unlikely that Vlad would allow it to go that far, because he would lose control.