2 Power to sell or otherwise dispose of the property of the company by public auction or private contract or, in Scotland, to sell, [F1410feu,F1410] hire out or otherwise dispose of the property of the company by public roup or private bargain.
Definitions used in Schedule 1, paragraph 2 1
- the company
2 Section 233B does not apply in relation to a contract for the supply of goods or services to a company (“the company”) where any of paragraphs 3 to 11 applies.
Defined in Sch.4ZZA para.2 · see it in the full Act
Cases considering Schedule 1, paragraph 2 10
Alma Property Management Ltd v Richard George Crompton & Anor
The court treated paragraph 2, together with the contractual power in clause 15(4)(i), as conferring a power to sell the freehold. That power supplied the function to which the contractual incidental or conducive power attached. (see para [45])
Twizell & Anor v Entrust & Ors
The court confirmed that paragraph 2 of Schedule 1 supplied the administrators’ requisite power of sale. (see para [26])
In the matter of Sova Capital Limited
Paragraph 2 conferred power to sell or otherwise dispose of company property by public auction or private contract. The court held that the power extended to a transfer in return for waiver of a creditor’s claim. (see paras [216]; [248]-[260])
- In the matter of Petropavlovsk plc (in administration)
- Rollingson v Hollingsworth & Ors
- L & N D Development and Design Ltd
- LF2 Ltd v Supperstone & Anor (Administrators of Pennyfeathers Ltd)
- Goel & Anor v Grant & Anor (As Joint Administrators of Meem SL Ltd) & Anor
- Hockin & Ors v Marsden & Ors
1 more judgment, and what each says about Schedule 1, paragraph 2, are in the case-law panel in the full Act.
Amendments and notes
1 notes from legislation.gov.uk
Amendments
- F1410Word in Sch. 1 para. 2 repealed (S.) (28.11.2004) by 2000 asp 5, ss. 71, 76(2), 77(2), Sch. 13 Pt. 1 (with ss. 58, 62, 75); S.S.I. 2003/456, art. 2