Insolvency, Restructuring and Dissolution Act 2018 · 2020 Revised Edition · Part 7 · Judicial Management
93. Restrictions on acts of company pending hearing of judicial management application
Feedback & supportAt any time during the period between the making of a judicial management application and the determination of the application, the Court may, on the application of any creditor of the company —
make an order to require or restrict any act of, or the exercise of any powers of, the company pending the determination of the application; or
company
“company” has the meaning given by section 4(1) of the Companies Act 1967;
make either or both of the following orders, each of which is to be in force for such part of the period as the Court thinks fit:
an order restraining the company from disposing of the property of the company other than in good faith and in the ordinary course of the business of the company;
property
“property” includes —(a)money, goods, things in action, land and every description of property, wherever situated; and(b)obligations and every description of interest, whether present or future or vested or contingent, arising out of or incidental to property;
an order restraining the company from transferring any share in, or altering the rights of any member of, the company.