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The Insolvency (England and Wales) Rules 2016

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Changes over time for: Section 14

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Version Superseded: 19/03/2024

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Point in time view as at 30/09/2021. This version of this provision has been superseded. Help about Status

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There are currently no known outstanding effects for the The Insolvency (England and Wales) Rules 2016, Section 14. Help about Changes to Legislation

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14.13.—(1) This rule applies in an administration or in a winding up of a company (other than a members' voluntary winding up) to any property which from its peculiar nature or other special circumstances cannot be readily or advantageously sold.

(2) The office-holder may with the required permission divide the property in its existing form among the company's creditors according to its estimated value.

(3) The required permission is—

(a)the permission of the creditors' committee in an administration or, if there is no creditors' committee, the creditors; and

(b)the permission of the liquidation committee in a winding up, or, if there is no liquidation committee, the creditors (without prejudice to provisions of the Act about disclaimer).

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