All sections · Part XIII: Protected Cell Companies · Sub-Part IV: Assets and Liabilities
232 Recourse to core assets by creditors
Without prejudice to the provisions of sections 230 and 234, and subject to the
terms of any recourse agreement, core assets of a protected cell company —
(a) are only available to the creditors of the company who are creditors in
respect of the core and who are thereby entitled, in conformity with the
provisions of this Part, to have recourse to the core assets; and
(b) are absolutely protected from the creditors of the company who are not
creditors in respect of the core and who accordingly are not entitled to
have recourse to the core assets.
terms of any recourse agreement, core assets of a protected cell company —
(a) are only available to the creditors of the company who are creditors in
respect of the core and who are thereby entitled, in conformity with the
provisions of this Part, to have recourse to the core assets; and
(b) are absolutely protected from the creditors of the company who are not
creditors in respect of the core and who accordingly are not entitled to
have recourse to the core assets.
