an unsecured charge on the assets of an enterprise that allows such assets to be used commercially until the enterprise ceases to operate or the creditor intervenes to demand collateral
Examples of 'floating charge' in a sentence
floating charge
But such cases are seldom brought because the banks use their floating charge privileges to impose tame insolvency professionals who won't rock the boat.
Times, Sunday Times (2013)
It was swept up by the bank's floating charge and the employer would have to prove in the liquidation for his cross-claim.
Times, Sunday Times (2007)
The retail tycoon has a 35 million floating charge as a secured creditor, meaning that he will be paid before any other creditors.
Times, Sunday Times (2016)
The administrator's remuneration and expenses under subsection (4) had priority over a floating charge and of course over unsecured creditors if there was a liquidation.