Floating charge: Difference between revisions

Floating charge (view source)

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			[[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]].