| 21. | In countries that permit the making of an administration order, the floating charge had another key benefit.
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| 22. | Especially when there is a floating charge.
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| 23. | At first instance Knox J, following " Brightlife ", held that they were subject to a floating charge.
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| 24. | However, because of the nature of floating charge, the priority of floating charge holder's claims normally rank behind:
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| 25. | Like a fixed charge, a floating charge can be created by a contract with a company before insolvency.
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| 26. | However, because of the nature of floating charge, the priority of floating charge holder's claims normally rank behind:
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| 27. | This was felt to be too favourable to the floating charge holder at the expense of other creditors.
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| 28. | In most countries floating charges can only be granted by companies, void as a general assignment in bankruptcy.
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| 29. | For example, floating charges are often used by finance companies in the United States to finance movable assets.
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| 30. | This means that an administrative receiver can normally only be appointed by the holder of a floating charge.
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