Section 13DM(3)

Where the Court gives permission under paragraph (1) other than in relation to a floating charge, the company must apply the following towards discharging the sums secured— the net proceeds of disposal of the property, and any money required to be added to the net proceeds so as to produce the amount determined by the Court as the net amount which would be realised on a sale of the property in the open market by a willing vendor.

← 2 · All articles · 4 →

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