Commentary

85.3 Intervention by holder of qualifying floating charge

BANKRUPTCY AND INSOLVENCY (CORPORATE INSOLVENCY) vol 3(3)
| Commentary

85.3 Intervention by holder of qualifying floating charge

| Commentary

85.3 Intervention by holder of qualifying floating charge

If a person who is not the holder of a qualifying floating charge1 has made an application to the court for the appointment of an administrator, the holder of a qualifying floating charge may intervene in the application and, in effect, make a cross-application for his own nominee to be appointed2. The court is obliged to grant the cross-application unless the court thinks it right to refuse the cross-application because of the particular circumstances of the case, but the costs of both the initial applicant and the intervening charge

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to LexisLibrary or register for a free trial