376. Power of court to require persons to repay money or return property

Where in the course of the winding up of a company it appears to the court that a person who has taken part in the formation or promotion of the company or a past or present director, manager, liquidator or receiver of the company, has misapplied or retained or become liable or accountable for money or property of the company, or been guilty of negligence, default or breach of duty or trust in relation to the company, the court may, on the application of the liquidator or a creditor or shareholder—

The provisions of this section shall have effect even though the conduct may constitute an offence under this

Where an order for payment of money is made under this section, it shall for the purposes of the Insolvency