In my mind, if they agree the extra year, they have dealt with and should release the property .... but .... it is still an asset and, I fear, the sale proceeds would still be regarded as fair game by the creditors. Note that the IP will not remove the restriction during the extra year -- it stays until the bitter end! My advice would be to err on the side of caution and do nothing regarding a sale until the completion certificate has been issued and the restriction has been lifted.
Thoughts welcome, especially from those in the industry.
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