Section 182(3)

Where subsection (1) applies and no person claiming under the company as underlessee or mortgagee is willing to accept an order under section 181 on the terms required by virtue of that subsection, the court may, by order under that section, vest the company’s estate or interest in the property in any person who is liable (whether personally or in a representative capacity, and whether alone or jointly with the company) to perform the lessee’s covenants in the lease. The court may vest that estate and interest in such a person freed and discharged from all estates, incumbrances and interests created by the company.

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Source: legislation.gov.uk · retrieved 2026-09-04