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Commentary

95 Bars on appointment of an administrator by the holder of a qualifying floating charge

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

95 Bars on appointment of an administrator by the holder of a qualifying floating charge

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

95 Bars on appointment of an administrator by the holder of a qualifying floating charge

An administrator of a company may not be appointed under the Insolvency Act 1986 Schedule B1 paragraph 14 if1:

  1. 95.1

        A provisional liquidator of the company has been appointed under Section 135 of the Act;

  2. 95.2

        An administrative receiver of the company is in office;

  3. 95.3

        there is already an administrator in office2; or

  4. 95.4

        Where the company is in liquidation, whether voluntary or compulsory3.

By contrast with the position on an out-of-court appointment by the company or its

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