241 Orders under ss 238, 239
Insolvency Act 1986 (1986 c 45) | Legislation

241  Orders under ss 238, 239

(1)     Without prejudice to the generality of sections 238(3) and 239(3), an order under either of those sections with respect to a transaction or preference entered into or given by a company may (subject to the next subsection)—

(a)     require any property transferred as part of the transaction, or in connection with the giving of the preference, to be vested in the company,

(b)     require any property to be so vested if it represents in any person's hands the application either of the proceeds of sale of property so transferred or of money so transferred,

(c)     release or discharge (in whole or in part) any security given by the company,

(d)     require any person to pay, in respect of benefits received by him from the company, such sums to the office-holder as the court may direct,

(e)     provide for any surety or guarantor whose obligations to any person were released or discharged (in whole or in part) under the transaction, or by the giving of the preference, to be under such new or revived obligations to that person as the court thinks appropriate,

(f)     provide for security to be provided for the discharge of any

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