Companies Act 1985

492 Receivers and managers appointed out of court

(1) A receiver or manager of the property of a company appointed under powers contained in an instrument may apply to the court for directions in relation to any particular matter arising in connection with the performance of his functions.

(2) On such an application, the court may give such directions, or may make such order declaring the rights of persons before the court or otherwise, as it thinks just.

(3) A receiver or manager so appointed is, to the same extent as if he had been appointed by order of a court—

(a) personally liable on any contract entered into by him in the performance of his functions (except in so far as the contract otherwise provides), and

(b) entitled in respect of that liability to indemnity out of the assets;

but this subsection does not limit any right to indemnity which the receiver or manager would have apart from it, nor limit his liability on contracts entered into without authority, nor confer any right to indemnity in respect of that liability.