Commentary

93 Alternative of appointing an administrative receiver

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

93 Alternative of appointing an administrative receiver

| Commentary

93 Alternative of appointing an administrative receiver

Where a floating charge was created after 15 September 2003, a secured creditor’s only course is to appoint an administrator; he may not appoint an administrative receiver. If there is default after 15 September 2003 under a debenture containing a floating charge created before that date (semble even for further advances after that date), the secured creditor is entitled to appoint an administrative receiver if he prefers to do so though he could appoint an administrator if that is his preferred course. Before the coming into force of the Enterprise Act 2002,

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