Section 432 — Directions as to property in certain cases

If an unregistered
company has no power to sue and be sued in a common name, or if for any reason
it appears expedient, the Court may, by the winding up order, or by any subsequent
order, direct that all or any part of the property, movable or immovable, including
all interests and rights in, to and out of property, movable and immovable, and
including obligations and actionable claims as may belong to the company or to
trustees on its behalf, is to vest in the official liquidator by his official name and
thereupon the property or any part thereof specified in the order shall vest
accordingly; and the official liquidator may, after giving such indemnity (if any) as
the Court may direct, bring or defend in his official name any suit or other legal
proceeding relating to that property, or necessary to be brought or defended for the
purposes of effectually winding up the company and recovering its property.