| Commentary

158 Introduction

| Commentary

D: RECEIVERSHIP

1: INTRODUCTION

158 Introduction

Banks and other major financiers of a company often require security for their loans by way of mortgage or charge over the company’s assets. Such security may be fixed, that is to say a mortgage or charge over property of the company which is capable of transfer or assignment by way of charge, and which gives the chargee a proprietary right binding upon both the company and others who take the charged property with notice of the charge. Or it may be floating, that is to say on terms which permit the company to deal with

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