Companies Act 2014 section 443

Power of court to order the return of assets improperly transferred

Section 443 gives the court the power to order the return of company assets that have been improperly transferred where a receiver has been appointed.

• Where a receiver has been appointed and it can be shown that company property was disposed of in a way that perpetrated a fraud on the company, its creditors, or its members, the court may order the return of that property
• The court may require any person who appears to have use, control, or possession of the property — or the proceeds from its sale or development — to deliver it or pay a sum to the receiver
• This power does not apply to transactions covered by section 604, which deals with unfair preference of creditors in the context of a winding up
• When deciding whether to make an order, the court must consider the rights of persons who have acquired an interest in the property in good faith and for value

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