floating charge


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Related to floating charge: fixed charge

floating charge

n
(Economics) chiefly Brit 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
References in periodicals archive ?
These new services are the latest in a recent succession of key developments from Paragon, following the launch of improved application management functionality for intermediaries across multiple platforms, the removal of valuation and admin fees on all Portfolio products, and the removal of the requirement of a floating charge on all applications from limited companies incorporated solely for the activity of holding and letting residential properties.
There has been much speculation in relation to the Receivership Bill which proposes to introduce a requirement that floating charge holders must obtain a Court Order in order to appoint a Receiver Manager ("RM") and bring an end to the quick and easy route currently relied upon by floating charge holders to appoint RM's.
It is secured by taking a first floating charge over the accounts receivable and the borrower takes out credit insurance with ArchOver jointly insured.
Administrators confirmed yesterday that Arcadia "will be repaid in full" from the floating charge it had over the group's assets.
That agreement gives the 50-year-old a floating charge on the club as well as security on a number of assets, including Murray Park and the club's registered trademarks.
In the English system, that is the fixed and floating charge, either of which can--in theory at least--extend to both real and personal property.
3% as of 14 March 2013, is secured by a floating charge over all the company's assets and a fixed lien over its bank accounts at the lending institutions.
Deliotte said in its report: "After discharging the costs of the administrations [MJN and parent holding company Staveley Engineering Services Ltd] we do not anticipate there will be any realisations from floating charge assets.
Based on the multi-functions and operation characteristics of FPC, Section II firstly brings forward five operation state of FPC including energy storage, active power generation, reactive power generation, speed limitation and floating charge.
The loan is on a fixed and floating charge over the firm's assets and will be offered for 12 months from October 21, 2010.
The TFC is secured by way of first ranking floating charge over all the present and future movable properties (including investments) of Engro Corporation Limited but excluding present and future trademarks and copyrights of ECL and excluding its shares in Engro Energy Limited and Engro Polymer & Chemicals Limited.