Waypark Commercial Mortgage 1 Ltd v Vanguard Number 1 Ltd (in liquidation) [2025] EWHC 1786 (Ch)
In brief
- A secured lender sought to exercise a right of sale over a mortgaged property owned by a company in liquidation.
- The central issue was whether the statutory stay in respect of companies in liquidation (imposed by section 130(2) Insolvency Act 1986) prevents a secured creditor from exercising its power of sale under a legal charge once the company has entered liquidation.
- The court held that it does not, as such a sale is not an “action or proceeding” against the company or its property.
This case provides helpful clarification for secured creditors and their advisers on the scope of the statutory moratorium that…