Commentary

69 Traditional view on the nature of charges over book debts

BANKING vol 4(1)
| Commentary

69 Traditional view on the nature of charges over book debts

| Commentary

69 Traditional view on the nature of charges over book debts

The exact nature of charges over book debts and their proceeds and the degree of control which the chargee has to exercise in order for the charge to be fixed is now reasonably well settled despite being the subject of uncertainty for some years.

In Re Brightlife Ltd1a charge over present and future book debts was held to be a floating charge if the chargor was permitted to pay the proceeds into a bank account and was able to use those proceeds in the ordinary course of its business without

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