Commentary

94 More than one qualifying floating charge holder: priorities

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

94 More than one qualifying floating charge holder: priorities

| Commentary

94 More than one qualifying floating charge holder: priorities

There can be only one administration of a company at any given time1. If there is more than one qualifying floating charge holder, their right to make an appointment depends in the following sense on the priority of their respective securities. The holder of a second or subsequent qualifying floating charge must give a ‘notice of intention to appoint an administrator by holder of qualifying floating charge2 to the holders of all prior qualifying floating charges or obtain their consent in writing before proceeding to make an

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