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Company – Administrator. The Chancery Division ruled that an individual, as the holder of a properly executed and authorised qualifying floating charge, had had power to appoint administrators and that the appointments, and all ensuing acts, had been valid. A debenture, amounting to the qualifying floating charge, had both been signed, although not then dated, when one of the two signatories had still been a director of the company and, notwithstanding that it had been given a later date, s 44 of the Companies Act 2006, requiring 'two authorised signatories', had been complied with. The later delivery of the loan agreement and debenture as a deed did not require any form of execution but merely required board authority, which had been evidenced from the minutes of a board meeting.
Company – Administrator. The Chancery Division ruled that an individual, as the holder of a properly executed and authorised qualifying floating charge, had had power to appoint administrators and that the appointments, and all ensuing acts, had been valid. A debenture, amounting to the qualifying floating charge, had both been signed, although not then dated, when one of the two signatories had still been a director of the company and, notwithstanding that it had been given a later date, s 44 of the Companies Act 2006, requiring 'two authorised signatories', had been complied with. The later delivery of the loan agreement and debenture as a deed did not require any form of execution but merely required board authority, which had been evidenced from the minutes of a board meeting.
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