Section 678 of Insolvency Act CAP 53: Realising property of company that is in liquidation or under administration
(1) This section applies to a company that is under administration or in liquidation.
(2) If a person has control over money, documents or other property to which the company appears to be entitled, the Court may require that person immediately, or within such period as the Court may direct, to pay the money or deliver the documents or other property to the relevant office-holder.
(3) Subsection (4) applies if the relevant office-holder—
(a) seizes or disposes of property that is not property of the company; and
(b) at the time of seizure or disposal believes on reasonable grounds that the office-holder is entitled (whether under an order of the Court or otherwise) to seize or dispose of the property.
(4) When this subsection applies, the relevant office holder—
(a) is not liable to any person in respect of any loss or damage resulting from the seizure or disposal except in so far as that loss or damage is caused by that office-holder's own negligence; and
(b) has a lien on the property, or the proceeds of its sale, for such expenses as were incurred in connection with the seizure or disposal.
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