Lesley Anderson QC, instructed by Jean Boldero, Chris Mitchell and Judith Hughes of Addleshaw Goddard LLP, was successful on behalf of the respondents in the recent decision of the Court of Appeal in Saw (SW) Limited and Neil Wilson Accountancy Ltd v (1) Simon Wilson, Anne O’Keefe & Fraser Gray and (2) Nationwide Building Society  EWCA Civ 1001. The issue was whether a debenture granted to Nationwide constituted a valid and enforceable qualifying floating charge within the meaning of Insolvency Act 1986 schedule B1 paragraph 14, such that the appointment of Mr Wilson, Ms O’Keefe and Mr Gray as administrators was valid, in circumstances where a prior charge over commercial property had already crystallised.
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