| Commentary

167 Liability for contracts

| Commentary

167 Liability for contracts

The Insolvency Act 1986 provides that a receiver (other than an administrative receiver) is personally liable on contracts he makes (unless they otherwise provide) but is entitled to an indemnity out of the assets of the company under his control1. Under the 1986 Act (which gives statutory recognition to the existing law), an administrative receiver is deemed to be the company’s agent until it goes into liquidation and, like other receivers, is made personally liable on contracts entered into by him (unless they otherwise provide) but has an indemnity out of the company’s assets

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