| Commentary

178 Disposal of assets

| Commentary

178 Disposal of assets

The court has power to authorise an administrative receiver, but not any other receiver, to dispose (with or without other assets) of any relevant property1 which is subject to a security as if it were not subject to the security, if this is likely to improve the price obtainable for the company’s assets2. The order3 will be conditional on the net proceeds of disposal, or (if greater), the net amount which would be realised on a sale of the property in the open market by a willing vendor, being applied towards

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