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Insolvency Act 1986

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Changes over time for: Section A42

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Point in time view as at 08/07/2021.

Changes to legislation:

Insolvency Act 1986, Section A42 is up to date with all changes known to be in force on or before 09 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

[F1A42Challenge to monitor’s actionsU.K.

(1)Any of the persons specified below may apply to the court on the ground that an act, omission or decision of the monitor during a moratorium has unfairly harmed the interests of the applicant.

(2)The persons who may apply are—

(a)a creditor, director or member of the company, or

(b)any other person affected by the moratorium.

(3)An application under subsection (1) may be made during the moratorium or after it has ended.

(4)On an application under subsection (1) the court may—

(a)confirm, reverse or modify any act or decision of the monitor,

(b)give the monitor directions, or

(c)make such other order as it thinks fit (but may not, under this paragraph, order the monitor to pay any compensation).

(5)Where an application under subsection (1) relates to a failure by the monitor to bring the moratorium to an end under section A38(1), an order under subsection (4) may, in particular, bring the moratorium to an end and make such consequential provision as the court thinks fit.

(6)Where an application under subsection (1) relates to the monitor bringing a moratorium to an end under section A38(1), an order under subsection (4) may, in particular, provide that the moratorium is not to be taken into account for the purposes of paragraph 2(1)(b) of Schedule ZA1 (company not eligible for moratorium if moratorium in force within previous 12 months).

(7)In making an order under subsection (4) the court must have regard to the need to safeguard the interests of persons who have dealt with the company in good faith and for value.

(8)See also section A17 (obligations to notify change in end of moratorium).]

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