Custody of company’s property
Part IV Winding Up of Companies Registered under the Companies Acts
(1)When a winding-up order has been made, or where a provisional liquidator has been appointed, the liquidator or the provisional liquidator (as the case may be) shall take into his custody or under his control all the property and things in action to which the company is or appears to be entitled.
(2)In a winding up by the court in Scotland, if and so long as there is no liquidator, all the property of the company is deemed to be in the custody of the court.
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 ActProperty to which a liquidator may take custody or control excludes mortgaged property under the management of a receiver appointed under the fixed charge. (see paras [55]-[58])
Confirms the compulsory liquidator’s duty to take company property and things in action into custody or control, without vesting ownership in the liquidator. (see para [37])
Requires the liquidator to take control of the company’s property and things in action. The provision frames the liquidator’s authority over the company’s appeal rights. (see para [9])
1 more judgment, and what each says about section 144, are in the case-law panel in the full Act.