Companies Act 2014 section 614

Vesting of property of company in liquidator

Section 614 deals with the court's power to transfer ownership of a company's property to the liquidator during a winding up, enabling the liquidator to hold and protect that property in their official capacity.

• The court may order that all or any part of a company's property, of whatever description, be vested in the liquidator by their official name.
• Property held by trustees on the company's behalf can also be vested in the liquidator under such an order.
• Once the order is made, the liquidator may bring or defend legal proceedings relating to that property, subject to providing any indemnity the court requires.
• This provision applies to both court-ordered and voluntary windings up.