Company – Administration. The defendant appealed against the judge's order that the claimant administrators be permitted to sell the assets of a company, which were subject to a fixed charge security held by the defendant, as if they were not subject to that security. The Court of Appeal, Civil Division, in dismissing the appeal, held that judge had approached the matter correctly, had properly taken into account the matters to which he had been bound to have regard and had come to a conclusion which had fallen well within the bounds of a reasonable exercise of his discretion.