Section 3 Power for liquidator or administrator to assign causes of actionI1

After Article 208ZC (inserted by section 2) insert—

“Power to assign certain causes of action

Power to assign

208ZD.

(1)

This Article applies in the case of a company where—

(a)

the company enters administration, or

(b)

the company goes into liquidation;

and “the office holder” means the administrator or the liquidator, as the case may be.

(2)

The office-holder may assign a right of action (including the proceeds of an action) arising under or by virtue of any of the following—

(a)

Article 13FA (challenges to monitor remuneration in subsequent insolvency proceedings);

(b)

Article 177 or 208ZA (fraudulent trading);

(c)

Article 178 or 208ZB (wrongful trading);

(d)

Article 202 (transactions at an undervalue);

(e)

Article 203 (preferences);

(f)

Article 206 (extortionate credit transactions).”.