A Debenture Holder of a Qualifying Floating Charge cannot appoint an Administrator where there are pending insolvency proceedings
In Re: Arvind Engineering Limited ML HC IP No. 03 of 2019 [2019] eKLR the High Court also held that where there’s any pending insolvency proceedings, the Debenture Holder once made aware of such proceedings ought to remain in those proceedings and make arguments for or against the grant of the order.