Floating charge: Difference between revisions
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Amwelladmin (talk | contribs) (Created page with "A "floating" charge is a security interest, which hovers in the ether, allowing the assets to move in and out of the custody account unhindered, but on an enforcement even...") |
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A "floating" charge is a [[security interest]], which hovers in the | 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]]. | ||
{{seealso}} | |||
*[[Fixed charge]] | |||
*[[Security interest]] | |||
*[[floater|Light brown floater]] | |||
{{c|Floating charge}} | |||
Revision as of 14:48, 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.