Misapplying the prescribed part

You will already be aware that office holders are required to set aside certain realisations for the benefit of unsecured creditors under the Insolvency Act 1986 (section 176A). Those realisations are carved out from assets that would otherwise be subject to a post-Enterprise Act floating charge.

Failing to comply with this duty will place the office holder at risk of censure and sanction. The office holder must therefore be sure the prescribed part is disapplied and not, unintentionally, misapplied.

This blog post covers points worth considering for office holders faced with disapplying the prescribed part…

Click on the link below to read the rest of the Gateley briefing.

Sign in or Register to continue reading this article

Sign in


It's quick, easy and free!

It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.

Register now

Why register to The Lawyer


Industry insight

In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.


Market intelligence

Identify the major players and business opportunities within a particular region through our series of free, special reports.


Email newsletters

Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.

More relevant to you

To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.

Briefings from Gateley Plc

View more briefings from Gateley Plc

Analysis from The Lawyer

View more analysis from The Lawyer


111 Edmund Street
B3 2HJ

Turnover (£m): 71.70
No. of lawyers: 406