Can a director instruct the sale after the appointment?
No. Once an administrator or liquidator is appointed, the office holder controls the assets and only they can instruct a sale. We will speak to a director who contacts us before an appointment, but where a formal process follows, the instruction comes from the office holder and the proceeds are paid to the estate.
This question comes up in
Liquidation and insolvency asset sales
Sales run on the instruction of administrators, liquidators, lenders and landlords, with the records they need.
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For office holders realising physical assets. Covers the instruction letter, the asset schedule and valuation basis, retention of title, finance and HPI checks, site security, health and safety during the sale, and the reconciliation you need for the file.
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