Commentary

126 Special power to deal with charged property

BANKRUPTCY AND INSOLVENCY (CORPORATE INSOLVENCY) vol 3(3)
| Commentary

126 Special power to deal with charged property

| Commentary

126 Special power to deal with charged property

The administrator has power to deal with property of the company, which is charged, whether by way of fixed or floating charge, without the consent of the chargee, although in the case of a fixed charge, only if the order of the court is first obtained1. In either case, the power is exercisable on terms protecting the rights of the chargee in relation to the proceeds of sale, which differ in the case of a floating charge from that of a fixed charge2. He has similar powers to

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