Schedule 16, paragraph 73(1)

An administrator’s statement of proposals under paragraph 49 may not include any action which— affects the right of a secured creditor of the company to enforce his security, would result in a preferential debt of the company being paid otherwise than in priority to its non-preferential debts, or would result in one preferential creditor of the company being paid a smaller proportion of his debt than another.

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