Commentary

72 Security over book debts and their proceeds — fixed or floating?

BANKING vol 4(1)
| Commentary

72 Security over book debts and their proceeds — fixed or floating?

| Commentary

72 Security over book debts and their proceeds — fixed or floating?

The question of how to decide whether the security over the book debts and their proceeds was fixed or floating has been examined at length. When deciding whether or not a fixed or floating charge is created it is not sufficient merely to look at the language used. In Re Brumark Ltd Lord Millett said:

‘In deciding whether a charge is a fixed charge or a floating charge, the Court is engaged in a two stage process. At the first stage it must construe the instrument of charge and

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to LexisLibrary or register for a free trial