Floating charge: Difference between revisions
Jump to navigation
Jump to search
Amwelladmin (talk | contribs) No edit summary |
Amwelladmin (talk | contribs) No edit summary |
||
| Line 1: | Line 1: | ||
[[File:Everybody floats.jpg|thumb|right|Well - we ''all'' do, now and then, when spring is upon us.]] | |||
A "floating" charge — fondly known by legal witterati as a “[[floater]]”, is a [[security interest]], which hovers in the æther, allowing the assets to move in and out of the custody account unhindered, but upon an [[enforcement event]] suddenly clamps down on whatever is in the account and becomes a [[fixed charge|“fixed” charge]]. | A "floating" charge — fondly known by legal witterati as a “[[floater]]”, is a [[security interest]], which hovers in the æther, allowing the assets to move in and out of the custody account unhindered, but upon an [[enforcement event]] suddenly clamps down on whatever is in the account and becomes a [[fixed charge|“fixed” charge]]. | ||
Revision as of 17:14, 17 January 2018
A "floating" charge — fondly known by legal witterati as a “floater”, is a security interest, which hovers in the æther, allowing the assets to move in and out of the custody account unhindered, but upon an enforcement event suddenly clamps down on whatever is in the account and becomes a “fixed” charge.