Insolvency Act 1986, section 168

Supplementary powers (England and Wales)

Part IV Winding Up of Companies Registered under the Companies Acts

(1)This section applies in the case of a company which is being wound up by the court in England and Wales.

[F351 (2)The liquidator may seek a decision on any matter from the company's creditors or contributories; and must seek a decision on a matter—

(a)from the company's creditors, if requested to do so by one-tenth in value of the creditors;

(b)from the company's contributories, if requested to do so by one-tenth in value of the contributories.F351]

(3)The liquidator may apply to the court (in the prescribed manner) for directions in relation to any particular matter arising in the winding up.

(4)Subject to the provisions of this Act, the liquidator shall use his own discretion in the management of the assets and their distribution among the creditors.

(5)If any person is aggrieved by an act or decision of the liquidator, that person may apply to the court; and the court may confirm, reverse or modify the act or decision complained of, and make such order in the case as it thinks just.

[F352 (5A)Where at any time after a winding-up petition has been presented to the court against any person (including an insolvent partnership or other body which may be wound up under Part V of the Act as an unregistered company), whether by virtue of the provisions of the M9Insolvent Partnerships Order 1994 or not, the attention of the court is drawn to the fact that the person in question is a member of an insolvent partnership, the court may make an order as to the future conduct of the insolvency proceedings and any such order may apply any provisions of that Order with any necessary modifications.

(5B)Any order or directions under subsection (5A) may be made or given on the application of the official receiver, any responsible insolvency practitioner, the trustee of the partnership or any other interested person and may include provisions as to the administration of the joint estate of the partnership, and in particular how it and the separate estate of any member are to be administered.F352]

[F353 (5C)Where the court makes an order for the winding up of an insolvent partnership under—

(a)section 72(1)(a) of the Financial Services Act 1986;

(b)section 92(1)(a) of the Banking Act 1987; or

(c)section 367(3)(a) of the Financial Services and Markets Act 2000,

the court may make an order as to the future conduct of the winding up proceedings, and any such order may apply any provisions of the Insolvent Partnerships Order 1994 with any necessary modifications.F353]

Definitions used in section 168 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 168 46

Brake and another v The Chedington Court Estate Ltd

[2023] UKSC 29 · 10 August 2023Interprets

The expression “person aggrieved” has the same substantive scope as “dissatisfied” in section 303(1). Standing is subject to the same limitations, adapted to corporate liquidation (see paras [5]-[9]; [74]-[76]; [99]).

Steven Goran Stevanovich v Matthew Richardson and another (as Joint Liquidators of Barrington Capital Group Ltd (In Liquidation)) (Virgin Islands)

[2025] UKPC 18 · 15 April 2025Interprets

The provision was treated as the closest statutory analogue to section 273. The Board adopted the view that its broad wording is limited to applicants with a sufficient connection to the liquidation and a legitimate interest in the relief sought. (see paras [20]-[35]; [42]-[45])

Evgeny Vasilievich Vesnin v Queeld Ventures Limited & Ors

[2025] EWCA Civ 951 · 22 July 2025Interprets

The court treats the provision as part of the domestic office-holder challenge regime. Standing extends to persons directly affected by a power peculiar to liquidation, rather than persons unconnected with the liquidation. (see paras [90]-[95])

26 more judgments, and what each says about section 168, are in the case-law panel in the full Act.

Amendments and notes

10 notes from legislation.gov.uk

Amendments

  1. F351S. 168(2) substituted (26.5.2015 for specified purposes, 6.4.2017 for E.W. in so far as not already in force, 6.4.2019 for S. in so far as not already in force) by Small Business, Enterprise and Employment Act 2015 (c. 26), s. 164(1), Sch. 9 para. 41(2); S.I. 2015/1329, reg. 3(d); S.I. 2016/1020, reg. 4(e) (with reg. 5) (as amended by S.I. 2017/363, reg. 3); S.I. 2019/816, reg. 4(c) (with reg. 5)
  2. F352S. 168(5A)(5B)(5C) inserted (1.12.1994) by S.I. 1994/2421, art. 14(1)
  3. F353S. 168(5C) substituted (3.7.2002) by S.I. 2002/1555, art. 15(2)

Modifications

  1. C465S. 168 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 (as amended (13.3.2018) by S.I. 2018/208, regs. 1(3), 5(3))
  2. C466S. 168 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)
  3. C467S. 168(1)-(3)(5) applied (with modifications) (1.12.1994) by S.I. 1994/2421, art. 8(3)(9), Sch. 4 Pt. II para. 20
  4. C468S. 168(2) modified (20.4.2003) by The Insurers (Reorganisation and Winding Up) Regulations 2003 (S.I. 2003/1102), reg. 29(2) (with reg. 3)
  5. C469S. 168(4) 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
  6. C470S. 168(4) applied (with modifications) (E.W.S.) 8.7.2021) by The Payment and Electronic Money Institution Insolvency Regulations 2021 (S.I. 2021/716), regs. 2, 37 (with reg. 5) (as amended (4.1.2024) by S.I. 2023/1399, regs. 1(2), 4, 11)

Marginal citations

  1. M9S.I. 1994/2421.