Commentary

182 Receiver’s costs, charges and expenses

BANKRUPTCY AND INSOLVENCY (CORPORATE INSOLVENCY) vol 3(3)
| Commentary

182 Receiver’s costs, charges and expenses

| Commentary

182 Receiver’s costs, charges and expenses

Debentures generally provide expressly that the receiver’s costs, charges and expenses should be paid as a first charge on realisations. In default of express provision, provided the charge is by deed, the provisions of the Law of Property Act 1925 will be read into the charge document and will govern the question1. In so far as the charge was, initially, a floating charge, the provisions of the charge will be subject to the statutory priority given to preferential creditors and, where applicable, to the ‘top slice’ of floating charge realisations for unsecured

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