Floating charge: Difference between revisions
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imported>Doug Williamson (Link with Crystallisation.) |
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''Law''. | ''Law''. | ||
A charge over the general assets of a company, such as stock. | A charge over the general assets of a company, such as stock. | ||
The assets may change and the company can use the assets without the consent of the secured creditor until the charge 'crystallises' (becomes fixed). Crystallisation happens on the appointment of an administrative receiver, on the presentation of a winding-up petition or as otherwise provided for in the document creating the charge. | The assets may change and the company can use the assets without the consent of the secured creditor until the charge 'crystallises' (becomes fixed). | ||
Crystallisation happens on the appointment of an administrative receiver, on the presentation of a winding-up petition or as otherwise provided for in the document creating the charge. | |||
== See also == | == See also == | ||
* [[Charge]] | * [[Charge]] | ||
* [[Crystallisation]] | |||
* [[Debenture]] | * [[Debenture]] | ||
* [[Fixed charge]] | * [[Fixed charge]] | ||
* [[Floating charge debenture]] | * [[Floating charge debenture]] | ||
* [[Security]] | * [[Security]] | ||
* [[Winding-up]] | |||
[[Category:Compliance_and_audit]] | |||
Latest revision as of 21:45, 10 March 2019
Law.
A charge over the general assets of a company, such as stock.
The assets may change and the company can use the assets without the consent of the secured creditor until the charge 'crystallises' (becomes fixed).
Crystallisation happens on the appointment of an administrative receiver, on the presentation of a winding-up petition or as otherwise provided for in the document creating the charge.
