ADVOKS GLOBAL · KENYA
Insolvency Act
555. Holder of qualifying floating charge may intervene in application made by person who is not the holder of such a charge
Edition: 2022-12-31 · In force
555. Holder of qualifying floating charge may intervene in application made by person who is not the holder of such a charge
If—(a)an application for administration in respect of a company is made by a person who is not the holder of a qualifying floating charge in respect of the company's property; and(b)the holder of a qualifying floating charge in respect of the company's property applies to the Court to have a specified person appointed as administrator and not the person specified by the administration applicant,the Court shall grant the application unless the Court believes it should be refused because of the particular circumstances of the case.