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单词 floating charge
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floating charge
Finance. Designating a charge to a creditor which is not attached to any specific assets, and which may be converted to a fixed charge in particular circumstances, such as liquidation; designating a debenture acknowledging such a charge. Frequently in floating charge. Cf. fixed adj. Additions.
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1869 Times 5 Oct. 9 The bankrupt..stated that at the time he offered to give Mr. Hulbert a mortgage only a floating charge existed on the property, and he was then in a position to give ample security.
1894 E. Manson Debentures & Debenture Stock of Trading & Other Companies iii. 43 From the moment that they enter or obtain a receiver their security attaches to the existing assets, and from being a floating one becomes fixed.
1904 A. F. Topham Princ. Company Law xiii. 138 When the debenture-holders take steps to enforce their security..the floating charge is said to crystallize.
1960 Jrnl. Afr. Law 4 39 Lenders are frequently disinclined to advance money on the security of a floating debenture which leaves the company free to deal with the assets.
1979 Globe & Mail (Toronto) (Nexis) 18 Aug. Securities officials have forced Abacus to grant Imperial a floating debenture on the assets of Abacus as additional security.
2005 Daily Tel. 25 Apr. 33/1 By taking a ‘fixed charge’ on these assets, rather than a ‘floating charge’, banks can claim the asset ahead of the preferential creditors.
extracted from floatingadj.
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更新时间:2024/12/22 23:11:19