Rule 17.26 Dealings by committee members and others: administration and administrative receivership

(1)

This rule applies in an administration and administrative receivership.

(2)

Membership of the committee does not prevent a person from dealing with the company provided that a transaction is in good faith and for value.

(3)

The court may, on the application of an interested person—

(a)

set aside a transaction which appears to it to be contrary to this rule; and

(b)

make such other order about the transaction as it thinks just including an order requiring a person to whom this rule applies to account for any profit obtained from the transaction and compensate the company for any resultant loss.