- Challenging the validity of a floating charge following an administrator appointment
- Original news
- Briefly, what was the background to the application?
- What were the legal issues the judge had to decide in this application?
- What did the judge decide, and why?
- What practical lessons can lawyers advising lenders at the time security is being granted take away from this case?
- What practical lessons can lawyers advising lenders or administrators at the time of enforcement take away from this case?
Restructuring & Insolvency analysis: Did the grant of a floating charge result in the crystallisation of an earlier floating charge pursuant to the terms of a negative pledge? What is the impact on appointment of administrators appointed under the floating charge? Natalie Brown, barrister at Radcliffe Chambers, offers practical advice to lenders and administrators within the context of Property Edge Lettings Ltd’s application.
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