5 Power to carry on the business of the company so far as may be necessary for its beneficial winding up.
Definitions used in Schedule 4, paragraph 5 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 5 5
Heis & Ors (Administrators of MF Global UK Ltd.) v MF Global Inc
Interpreted as restricting a liquidator’s continuation of the company’s business to what is necessary for its beneficial winding-up. This contrasted with the broader powers of a special administrator. (see paras [32], [46])
Butts Park Ventures (Coventry) Ltd v Bryant Homes Central Ltd
The court identified the power to sell the Club’s property as one of the powers closely followed by the winding-up order. That power supported the validity of the subsequent transfer executed by the appointed persons. (see paras [17]-[18])
In the Matter of Cargologicair Limited
Confirms that a liquidator may carry on the company’s business only so far as necessary for a beneficial winding up, contrasting that limited power with the broader powers available to administrators. (see para [22])
What each judgment says about Schedule 4, paragraph 5 is in the case-law panel in the full Act.