21 Reorganisations in the context of a voluntary winding up

4: REORGANISATIONS

21 Reorganisations in the context of a voluntary winding up

Most company reorganisations proceed with the consent of all the interested parties but in some cases this is not possible. Where the company is being, or is about to be, wound up voluntarily, it may be still be possible to implement a reorganisation using the provisions of Section 110 of the Insolvency Act 1986. Under this Section, the company’s liquidator may sell the whole or part of its business or property to another company in consideration of1:

  1. 21.1

        shares, policies or other like interests in that other company being