Secured creditors win: Court confirms power of sale survives company liquidation

Eva Humphreys and Jessica Williams of Mishcon de Reya share that the High Court has confirmed that a statutory stay in liquidation does not prevent a secured creditor from exercising a contractual power of sale, since such enforcement is not an action or proceeding under section 130(2), preserving lenders’ ability to realise fixed charge assets without court permission.

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