Company

The appointment of the first respondents as joint administrators of a company had not been invalid in circumstances where, amongst other things, the second floating charge in question had been granted without the prior written consent of the holder of an earlier floating charge over the company’s property.

The Court of Appeal, Civil Division, held that all the legal requirements of the second floating charge, pursuant to paras 14 to 16 of Sch B1 to the Insolvency Act 1986 had been met by the creation and enforcement of the second floating charge.