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- Floating_charge abstract "A floating charge is a security interest over a fund of changing assets of a company or a limited liability partnership (LLP), which 'floats' or 'hovers' until the point at which it is converted into a fixed charge, at which point the charge attaches to specific assets of the company or LLP. This conversion into a fixed charge (called "crystallisation") can be triggered by a number of events; inter alia, it has become an implied term (under English law) in debentures that a cessation of the company's right to deal with the assets in the ordinary course of business leads to automatic crystallisation. Additionally, according to express terms of a typical loan agreement, default by the chargor is a trigger for crystallisation. Such defaults typically include non-payment, invalidity of any of the lending or security documents or the launch of insolvency proceedings.Floating charges can only be granted by companies or LLPs. If an individual person or a partnership was to purport to grant a floating charge, it would be void as a general assignment in bankruptcy.Floating charges take effect in equity only, and consequently are defeated by a bona fide purchaser for value without notice of any asset covered by them. In practice, as the chargor has power to dispose of assets subject to a floating charge, this is only of consequence in relation to disposals that occur after the charge has crystallised.The floating charge has been described as "one of equity's most brilliant creations."".
- Floating_charge wikiPageExternalLink 36785.
- Floating_charge wikiPageExternalLink article_724.html.
- Floating_charge wikiPageID "2458660".
- Floating_charge wikiPageRevisionID "606464003".
- Floating_charge hasPhotoCollection Floating_charge.
- Floating_charge subject Category:Debt.
- Floating_charge subject Category:Property_law.
- Floating_charge comment "A floating charge is a security interest over a fund of changing assets of a company or a limited liability partnership (LLP), which 'floats' or 'hovers' until the point at which it is converted into a fixed charge, at which point the charge attaches to specific assets of the company or LLP.".
- Floating_charge label "Floating charge".
- Floating_charge label "Floating charge".
- Floating_charge label "Floating charge".
- Floating_charge sameAs Floating_charge.
- Floating_charge sameAs Floating_charge.
- Floating_charge sameAs m.07fkd1.
- Floating_charge sameAs Q1429072.
- Floating_charge sameAs Q1429072.
- Floating_charge wasDerivedFrom Floating_charge?oldid=606464003.
- Floating_charge isPrimaryTopicOf Floating_charge.