The holder of a Debenture created prior to the coming into effect of the Insolvency Act (Act No.18 of 2015) (the Act) qualifies to appoint an Administrator under the provisions of section 534 of the Act
In Re: Arvind Engineering Limited ML HC IP No. 03 of 2019 [2019] eKLR the High Court held that the holder of a debenture whose instruments empowered them to appoint a Receiver-manager under the Repealed Act is deemed to have powers to appoint an administrator under the Insolvency Act 2015, section 534 as the powers and functions…