High Court rules that administrators can recover funds in an insolvent company’s bank accounts despite potential third-party proprietary claims

Andrew Cooke, Nihar Lovell and Peter Thompson of HSF Kramer examine a High Court decision confirming that administrators can use section 234 of the Insolvency Act 1986 to compel a bank to release funds held in an insolvent company’s accounts, even where third parties may assert proprietary claims, with the administrators taking the funds subject to any such claims and without the order determining ownership.

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