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10 Company Subject to Another Insolvency Procedure

From: Applications to Wind up Companies (4th Edition)

Derek French
Edited By: Stuart Sime

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2023. All Rights Reserved.date: 22 February 2024

This chapter sets out who can apply for a winding-up order and when a winding-up order can be made where a company is already subject to an insolvency procedure. This chapter discusses the insolvency procedures under the law of England and Wales, other parts of the United Kingdom and outside the UK. A supervisor of a company voluntary arrangement (CVA) approved under IA 1986, part 1, may petition for the compulsory winding up of the company, and the court may appoint the supervisor to be liquidator of the company. IA 1986, part 1, is applied with modifications to building societies by the Building Societies Act 1986. When a company is in administration, no petition for it to be wound up may be presented without the administrator’s consent or the court’s permission, unless it is presented for the purpose of proceedings under the default rules of a recognized body in a financial market.

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