Floating charge: Difference between revisions
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imported>Doug Williamson m (Spacing 27/8/13) |
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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 == | ||
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* [[Floating charge debenture]] | * [[Floating charge debenture]] | ||
* [[Security]] | * [[Security]] | ||
Revision as of 13:55, 27 August 2013
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.
