单词 | floating charge |
释义 | floating chargenoun A liability to a creditor which relates to the company’s assets as a whole and may become fixed in particular circumstances (such as liquidation). Compare with fixed charge.On 12 th August 1988 Wallace entered into cross-guarantees with the other companies in the Prospective Group in favour of Midland and granted to Midland a debenture containing fixed and floating charges to secure its liability....
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