13 Power to do all such other things as may be necessary for winding up the company’s affairs and distributing its assets.
Definitions used in Schedule 4, paragraph 13 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 4, paragraph 13 5
The Connaught Income Fund, Series 1 v (Capita Financial Managers Ltd & Anor
The provision was interpreted as a freestanding and extremely wide power to do all things necessary for winding up and distributing assets. Commercial necessity justified accepting and pursuing the gratuitous assignments for the potential benefit of creditors. (see paras [50]-[56])
Business Dream Ltd, Re Insolvency Act 1986
Interpreted as conferring a power to do what is necessary for winding up the company’s affairs. The court considered that this broad power included disclaimer of leases.
Lune Metal Products Ltd v Getliffe & Ors
The court identifies the liquidator’s express power to distribute company assets as a contrast with the absence of an equivalent administrator power. (see [33])
1 more judgment, and what each says about Schedule 4, paragraph 13, are in the case-law panel in the full Act.
Amendments and notes
1 notes from legislation.gov.uk
Modifications
- C1544Sch. 4 para. 13 applied (with modifications) (17.2.2009 for certain purposes, otherwise 21.2.2009) by Banking Act 2009 (c. 1), ss. 145, 263(1)(2) (with s. 247); S.I. 2009/296, arts. 2, 3, Sch. para. 3