- qualifying floating charge
A floating charge created by an instrument which:• States that paragraph 14 of Schedule B1 to the Insolvency Act 1986, applies to it;• Purports to empower the holder of the floating charge to appoint an administrator of the company; or• Purports to empower the holder of the floating charge to make an appointment which would be the appointment of an administrative receiver within the meaning given by section 29(2) of the Insolvency Act 1986.
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
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Qualifying floating charge — In English law, a qualifying floating charge is a floating charge which enables the holder to appoint an administrator or administrative receiver under the Insolvency Act 1986 without the need for an order of the court. The change was introduced… … Wikipedia
qualifying floating charge holder — A person who, in respect of a company s property, holds one or more debentures of the company secured by: • A qualifying floating charge which relates to the whole or substantially the whole of the company s property; • A number of qualifying… … Law dictionary
Floating charge — A floating charge is a security interest over a fund of changing assets of a company or a limited liability partnership (LLP), which floats or hovers until conversion into a fixed charge, at which point the charge attaches to specific assets. The … Wikipedia
administrative receivership — A remedy of a secured creditor to allow for the realisation of assets subject to security. Prior to the Enterprise Act 2002, administrative receivership was available to a creditor who had a floating charge over the whole (or substantially the… … Law dictionary
administrator — ad·min·i·stra·tor /əd mi nə ˌstrā tər/ n 1: a person appointed by a probate court to manage the distribution of the assets in the estate of a person who has died without leaving a valid will or leaving a will that does not name an executor able… … Law dictionary
administration — ad·min·is·tra·tion /əd ˌmi nə strā shən/ n 1: the act or process of administering the administration of justice 2 a: the management and disposal under court authority of the estate of a deceased person by an executor or an administrator b: the… … Law dictionary
administration order — 1) An order made in a county court for the administration of the estate of a judgement debtor (see judgement creditor). The order normally requires the debtor to pay all debts by instalments; so long as he does so, the creditors referred to in… … Big dictionary of business and management
List of Statutory Instruments of the United Kingdom, 2008 — This is an incomplete list of Statutory Instruments of the United Kingdom in 2008. NOTOC 1 100* Insolvency Practitioners and Insolvency Services Account (Fees) (Amendment) Order 2008 S.I. 2008/3 * Information as to Provision of Education… … Wikipedia
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