# The Insolvency (Northern Ireland) Order 1989, Paragraph 97


(1) This paragraph applies where an administrator of a company is appointed under paragraph 15 by the holder of a qualifying floating charge in respect of the company's property.
(2) The holder of a prior qualifying floating charge in respect of the company's property may apply to the High Court for the administrator to be replaced by an administrator nominated by the holder of the prior floating charge.
(3) One floating charge is prior to another for the purposes of this paragraph if—
(a) it was created first, or
(b) it is to be treated as having priority in accordance with an agreement to which the holder of each floating charge was party.

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Source: https://www.legislation.gov.uk/nisi/1989/2405/schedule/B1/paragraph/97 (the official version)
Page: https://openlegislation.uk/insolvency-northern-ireland-order-1989/schedule-B1/paragraph-97
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.