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Re Lehman Brothers International: Difference between revisions
Re Lehman Brothers International (view source)
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{{cite1|Re Lehman Brothers International|2012|EWHC|2997}} - also known as the '''[[extended liens]] application. | {{cite1|Re Lehman Brothers International|2012|EWHC|2997}} - also known as the '''[[extended liens]]''' application. | ||
:''It is as I have said common ground that, if the security rights are charges at all, they are floating charges. No one has advanced the argument that they merely create flawed assets in the hands of LBF as their primary case. It is advanced mainly as a fallback riposte to LBF’s case that the purported grant of a security right to a grantee other than the grantor’s creditor is conceptually incapable of being a charge, unless supported by a fiduciary obligation of the grantee to exercise it for the creditor’s benefit.'' — Briggs J <br> | :''It is as I have said common ground that, if the security rights are charges at all, they are floating charges. No one has advanced the argument that they merely create flawed assets in the hands of LBF as their primary case. It is advanced mainly as a fallback riposte to LBF’s case that the purported grant of a security right to a grantee other than the grantor’s creditor is conceptually incapable of being a charge, unless supported by a fiduciary obligation of the grantee to exercise it for the creditor’s benefit.'' — Briggs J <br> | ||