The appointment of an administrator1 between exchange of contracts and completion does not affect the validity of the contract. The powers of the administrator are those contained in the instrument under which he was appointed and in addition he will have the powers conferred upon him by the Insolvency Act 19862. Most of the powers of the directors will be suspended by virtue of his appointment. On a sale of property the administrator may join in the purchase deed on sale to give a receipt for the purchase price and will execute the purchase deed on behalf of the
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