Companies Act 2014 section 603

Voidance of executions against property of company

Section 603 deals with the protection of a company's property from enforcement actions once a winding up has commenced.

• Once a company enters winding up, any enforcement action taken against its property after that point is automatically void
• The prohibited actions include attachment, sequestration, distress and execution — all forms of seizing or freezing a company's assets to satisfy a debt
• This protection applies to all types of winding up, whether court-ordered or voluntary
• The court retains discretion to order otherwise in appropriate circumstances