[176ZB Application of proceeds of office-holder claims]

[176ZB  Application of proceeds of office-holder claims]

[(1)     This section applies where—

(a)     there is a floating charge (whether created before or after the coming into force of this section) which relates to property of a company which—

(i)     is in administration, or

(ii)     has gone into liquidation; and

(b)     the administrator or the liquidator (referred to in this section as “the office-holder”) has—

(i)     brought a claim under any provision mentioned in subsection (3), or

(ii)     made an assignment (or, in Scotland, assignation) in relation to a right of action under any such provision under section 246ZD.

(2)     The proceeds of the

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