Schedule 16, paragraph 52(1)

Paragraph 51(1) shall not apply where the statement of proposals states that the administrator thinks— that the company has sufficient property to enable each creditor of the company to be paid in full, that the company has insufficient property to enable a distribution to be made to unsecured creditors other than by virtue of section 176A(2)(a), or that neither of the objectives specified in paragraph 3(1)(a) and (b) can be achieved.

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