Insolvency Rules 2005, Form 86(7) - Notice of Court Order to Dispose of Perishable Assets

Summary

This is a statutory notice form (Form 86(7)) prescribed under the Insolvency Rules 2005 made pursuant to the Insolvency Act 2003. It is used to inform the Registrar of Companies that a court has made an order permitting a company to dispose of perishable assets during insolvency proceedings.

• Who completes it: A director or secretary of the company subject to the insolvency proceedings
• What it certifies: That on a stated date the court made an order permitting the company to dispose of certain perishable assets
• What must be attached: A sealed copy of the court order
• Where it is filed: With the Registrar of Companies, P.O. Box 418, Road Town, Tortola, British Virgin Islands

The form itself does not specify a filing deadline; it simply operationalises the statutory requirement to notify the Registrar once such a court order has been obtained.

Key obligations

• A director or secretary of the company must give written notice to the Registrar of Companies that a court order permitting disposal of perishable assets has been made
• A sealed copy of the court order must be attached to the notice filed with the Registrar

Applies to

companies subject to insolvency proceedings, company directors, company secretaries