LexisLibrary and LexisPSL
Sign up for a free trial today and get full access for a weekTrial
(Chancery Division, Richard Snowden QC (sitting as a deputy High Court judge), 25 October 2013)
The directors of a company retain a residuary power to cause the company to bring an application to challenge the appointment of administrators by a qualifying floating charge-holder pursuant to para 14 Sch B1 to the IA 1986. Such authority is not dependent on the provision by the directors of an indemnity for costs.
However, on the facts the qualifying floating charge-holder was not estopped from appointing administrators by indicating that it was open to settlement discussions.
"BPIR is an excellent series, of interest to both corporate and personal insolvency lawyers,...