1. The original proceedings, against the company which has entered administration, are suspended.
2. You're now allowed to make a claim against the insurance company.
3. You've got until 'such and such date' to issue a formal claim against the insurers (while giving them reasonable time to respond to your claim). The court can then reconvene on, or after, 'such and such date' to consider your claim (if the insurers have not, by then already met that claim).
Sorry, item 4 doesn't appear to be a complete sentence, so I'm a bit lost. (I suspect that the letter has been generated from a standard document which would, if the matter had been concluded at the court hearing, show who must pay the costs. Since there has not yet been any decision made by the court, that part has been left blank).
Chris
(NB: If Barmaid posts on this thread, anything she writes must take precedence over my interpretation of things. She's a barrister, practising solely in the civil courts. I'm just a guy who tries to make sense of our legal system, but I still try to be accurate!)