(1)Where a company registered in England and Wales is being wound up by the court, any attachment, sequestration, distress or execution put in force against the estate or effects of the company after the commencement of the winding up is void.
(2)This section, so far as relates to any estate or effects of the company situated in England and Wales, applies in the case of a company registered in Scotland as it applies in the case of a company registered in England and Wales.
(3)
In subsection (1) “attachment” includes a hold notice or a deduction notice under Part 1 of Schedule 8 to the Finance ( No. 2) Act 2015 (enforcement by deduction from accounts) and, if subsection (1) has effect in relation to a deduction notice, it also has effect in relation to the hold notice to which the deduction notice relates (whenever the hold notice was given).
Cases considering section 128 5
[2014] EWCA Civ 180 · 24 February 2014Limits
Provides that attachment, sequestration, distress or execution commenced after winding up is void, subject to the court-permission provisions discussed in the judgment. (see paras [31]-[32])
[2009] EWCA Civ 811 · 29 July 2009
Section 128(1) avoids execution against a company’s estate after commencement of winding-up. It was cited as part of the statutory comparison with individual bankruptcy. (See para [17].)
[2005] EWCA Civ 586 · 19 May 2005Limits
The court used the contrast between subsection 128(1), which made specified proceedings void, and subsection 130(2), which required leave, as part of the statutory comparison. The comparison did not displace the clear construction of section 139(2). (see para [30])
What each judgment says about section 128 is in the case-law panel in the full Act.