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The Insolvency (Scotland) (Receivership and Winding up) Rules 2018

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Taking possession and realisation of company’s assets

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4.32.—(1) The liquidator must—

(a)as soon as reasonably practicable after the liquidator’s appointment take possession of—

(i)the whole assets of the company; and

(ii)any property, books, papers or records in the possession or control of the company or to which the company appears to be entitled; and

(b)make up and maintain an inventory and valuation of the assets of the company.

(2) The liquidator is entitled to have access to, and to make copies of, all documents or records relating to the assets, property, business or financial affairs of the company—

(a)sent by or on behalf of the company to a third party; and

(b)in that third party’s hands.

(3) If a person obstructs the liquidator in the liquidator’s exercise, or attempted exercise, of a power conferred by paragraph (2), the court may, on the liquidator’s application, order the person to cease obstructing the liquidator.

(4) The liquidator may require delivery to the liquidator of any title deed or other document of the company, even if a right of lien is claimed over it.

(5) Paragraph (4) is without prejudice to any preference of the holder of the lien.

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