Insolvency Act 1986, section 145

Vesting of company property in liquidator

Part IV Winding Up of Companies Registered under the Companies Acts

(1)When a company is being wound up by the court, the court may on the application of the liquidator by order direct that all or any part of the property of whatsoever description belonging to the company or held by trustees on its behalf shall vest in the liquidator by his official name; and thereupon the property to which the order relates vests accordingly.

(2)The liquidator may, after giving such indemnity (if any) as the court may direct, bring or defend in his official name any action or other legal proceeding which relates to that property or which it is necessary to bring or defend for the purpose of effectually winding up the company and recovering its property.

Definitions used in section 145 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 section 145 3

Southern Pacific Personal Loans Ltd, Re

[2013] EWHC 2485 (Ch) · 8 August 2013Interprets

Confirms that property remains vested in the company unless the court specifically directs vesting in the liquidator by official name. (see para [37])

The Mayor and Commonalty and Citizens of the City of London v Robinson Webster (Holdings) Limited

[2026] EWHC 151 (Admin) · 30 January 2026

Is referred to as a basis for an order vesting a lease in a liquidator, relevant to the regulation 4(m) exemption. (see paras [19], [25])

Cofacredit SA v Clive Morris & Mora UK Ltd

[2006] EWHC 353 (Ch) · 3 March 2006Defines

The court noted that company property remains vested in the company unless an order is made under section 145. The point supported the conclusion that a liquidator does not beneficially own money collected in the liquidation. (see paras [14]-[15])

What each judgment says about section 145 is in the case-law panel in the full Act.

Amendments and notes

4 notes from legislation.gov.uk

Modifications

  1. C404Ss. 142-146 applied (with modifications) (4.1.2024) by S.I. 2021/716, Sch. 1 para. 3 (as amended by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 20)
  2. C412S. 145 applied (with modifications) (S.) (6.4.2001) by S.S.I. 2001/128, reg. 4(1), Sch. 2
  3. C413S. 145 applied (with modifications) (17.2.2009 for certain purposes, otherwise 21.2.2009) by Banking Act 2009 (c. 1), ss. 103, 263(1)(2) (with s. 247); S.I. 2009/296, arts. 2, 3, Sch. para. 2
  4. C414S. 145 applied (with modifications) (6.6.2013) by The Collective Investment in Transferable Securities (Contractual Scheme) Regulations 2013 (S.I. 2013/1388), Pt. 3 reg. 1, Sch. 2 paras. 3, 5 Table (with reg. 24)